Fresh from raising $35m (e36m) for a new Turkish hedge fund, Thames River Capital is hatching plans for Japanese and global emerging market offerings.

The Japanese fund will be run by new recruits Rod Birkett and Huw Llewellyn, who used to work together at SG Warburg. It is likely to open for business in November with capacity for $250m. The global emerging equity fund will be lead by Rory Landman and Martin Taylor. It will seek up to $250m next year.