Motor-Racing Mogul To Rev Up HF

Before making name for himself as the owner of Jordan Formula One racing team, Eddie Jordan was a banker and now, 35 years later, he's returning to financial services as a director of Clareville Capital. Jordan, who sold the U.K. team last year to Alex Shnader and his Midland Group –  Jordan reportedly shelled out £1 million (US$1.7 million) a month of his own money to keep the team financially humming – is the newest member of a star-studded team which together has acquired a 49% stake in the London-based hedge fund. Other newcomers include Jonathan Marland, treasurer of the British Conservative Party and found of Jardine Lloyd Thompson, the risk management advisers and insurance broker; and Charles Dunstone and David Ross, founder and deputy chairman, respectively, of Carphone Warehouse. Clareville founder David Yarrow, who holds the remaining 51% of the firm, is hoping the incoming team will have the formula to power the flow new investors and drive the hedge fund to new heights. Among the future plans is the imminent opening of an office in Mumbai, India, and another in Brazil in 2007. Yarrow told The Times of London that, until now, the firm with US$800 AUM has been too small to take advantage of all the growing hedge opportunities out there, but with the new part-owners, "We're really going to go for it now."