BEECHTREE CAPITAL AGREES TWO IMPORTANT DISTRIBUTION PARTNERSHIPS

WITH GOSHAWK ASSET MANAGEMENT AND ETERNAL CAPITAL GROUP

London - 25 March 2025. Beechtree Capital (‘Beechtree’) is pleased to announce that it has agreed important partnerships to introduce Goshawk Asset Management (‘Goshawk’) and Eternal Capital Group (‘Eternal’) to investors in the UK and Ireland.

Beechtree will work with Goshawk to distribute the £81 million Dublin-domiciled Goshawk Global Fund¹, a long-only open-ended global equity fund which has returned 150.6% since launch in December 2016, and the £15.8 million Goshawk Global Balanced Fund UCITS ETF², an active ETF strategy predominantly built around global equities.

Beechtree will also work with Eternal to distribute its Emerging Market equity strategies. Initially, the focus will be on Eternal’s long-only Global Emerging Markets strategy which will be made available to investors in the UK & Ireland via a UCITs launch in 2025 (subject to all necessary approvals)

Tom Norman-Butler, Founder and Managing Director at Beechtree commented: 

“We are thrilled to announce our partnerships with both Goshawk and Eternal. Our aim is to champion specialist active managers with a proven track record, and we believe that Goshawk and Eternal fit this bill perfectly. 

“The investment team at Goshawk, led by Simon Edelsten, has a huge amount of experience managing global equity portfolios. If one takes the view that market dynamics might change in the years ahead, with an increase in volatility, then this could prove to be a differentiating factor. In addition, they have chosen to be bold with their fees which means investors can access true active management, at a time when the index is unbalanced, at a highly competitive rate.

“Turning to Eternal, founding partner Patricio Danziger has assembled an impressive and highly experienced team with many years’ spent working together notably at Redwheel & Everest Capital. Every member of the team is a partner in the firm and importantly they are all native to the regions in which they invest. We believe this local experience combined with a global perspective provides them with a valuable edge”

 Alex Illingworth, Fund Manager at Goshawk, added: 

“Beechtree’s knowledge of our industry and their breadth of contacts are exceptional. We are therefore looking forward to working with Tom and his team as we look to build our assets under management in the future.”

Patricio Danziger, Founder at Eternal, concluded:

“We are excited to have signed a distribution partnership with Tom and his team. They have an impressive track record of distributing funds across the UK and Ireland, we therefore believe they are a great team for us to work with as we look to expand our client base in the region.”

GOSHAWK 

‘AN EXPERIENCED TEAM WITH A DISTINCTIVE INVESTMENT PROCESS AND UNIQUE FEE STRUCTURE’

Goshawk is a new global equities boutique started in 2024 by former Artemis duo, Simon Edelsten and Alex Illingworth. The team has been joined by Tim Gregory, James Rowsell and Charlie Fricker following their acquisition of the Vermeer Global Fund in September 2024. Together they form one of the most experienced global equity teams in the City with average experience of 32 years. Long term support has been provided by Harwood Capital.

Simon and Alex used to manage the Mid Wynd investment trust whilst at Artemis as well as the Artemis Global Select Fund, both core global equity strategies. They aim to buy quality companies with structural growth drivers but, somewhat uniquely, they will move up to 25% of the portfolio in to “value” to protect performance when valuations become stretched. The same investment philosophy will be employed at Goshawk. 

Goshawk has decided to be bold with its pricing strategy. They believe fees for active management remain too high and will likely fall further across the industry. This is especially true for developed market Large Cap equities. As a result, Goshawk has decided to get ahead of the curve by introducing a more competitive annual management charge of 0.25% for mandates of £20 million and above, or 0.45% for mandates above £3m (currently waived).

ETERNAL 

‘AN EXPERIENCED EMERGING MARKET EQUITIES TEAM WITH LOCAL KNOWLEDGE AND INSIGHT'

Founded in January 2024, Eternal Capital Group is a specialist in Emerging Market equities. The business was founded by Patricio Danziger, formally a partner in the Redwheel Emerging & Frontier Markets Equity team. Patricio has recruited a world class investment team including Min Chen, formerly Head of China at Redwheel, Marcelo Telles, Vanessa Quiroga and Shawn Tan. 

Based in Miami and Singapore, each member of the team is an owner of the firm and, importantly, they are all native to the regions in which they invest. Emerging markets are culturally, structurally, and politically diverse which means local professionals with international experience are uniquely positioned to understand and navigate the nuances of their markets. 

Eternal has appointed an Advisory Committee composed of renowned experts in global macroeconomics, geopolitics, business, and technology. They believe that a deep understanding of macroeconomic trends and geopolitical dynamics is a key differentiator in Emerging Markets investing, and their Advisory Committee helps them to build an edge in this area.

Eternal Capital manages both long only and long/short emerging market strategies. 

Media Enquiries:

Vee Montebello

Email: veemontebello@gmail.com

Mobile: +44 (0) 7872 665 149

Notes to Editors:

¹The Goshawk Global Fund was previously known as the Vermeer Global Fund until it was renamed in March 2025. Vermeer founders Tim Gregory and James Rowsell, along with Charlie Fricker, came over to Goshawk as part of the acquisition terms. They have joined well known Artemis fund managers, Simon Edelsten and Alex Illingworth. All five contribute to decision making, with Gregory the lead manager. 

²Goshawk has partnered with HANetf, Europe’s first and only independent white label UCITs ETF and ECT platform, to build this Active ETF strategy. The Goshawk Global Balanced UCITS ETF was originally known as the HANetf Global Balanced Fund until it was renamed in March 2025.

THE COMPANIES REFERENCED

Beechtree:

Founded in September 2024 by Tom Norman-Butler, the former Head of Business Development at Montanaro Asset Management, Beechtree is an outsourced distribution and client servicing business focused on the UK & Ireland. The company aims to build long-term partnerships with a small number of highly regarded and exceptional active fund managers. It will typically look for specialists with a differentiated and proven investment approach and, above all, aims to find strategies it believes will add value to its clients.  Click HERE for more information.

Eternal:

Click HERE for more information.

Goshawk:

Click HERE for more information.

HANetf:

HANetf is an independent provider of UCITS ETFs. It works with asset management companies to bring differentiated, modern and innovative exposures to European ETF investors. Via its white-label platform, HANetf provides a complete operational, regulatory, distribution and marketing solution for asset managers to launch and manage UCITS ETFs.

THE INDIVIDUALS REFERENCED

Beechtree Capital

Tom Norman-Butler – Managing Director and Founder, Beechtree Capital:

Prior to founding Beechtree, Tom spent 15 years at Montanaro Asset Management, including eight years as Head of Business Development. Tom has an extensive network of contacts in the UK & Ireland spanning both wholesale and institutional, and a proven track record of raising assets. Tom holds a BSc in Mathematics and French from the University of St Andrews.

Goshawk

Simon Edelsten - CIO:

Simon is based in London. Prior to his retirement from Artemis he had worked there since 2011, managing the Artemis Global Select Fund and Mid Wynd International Investment Trust alongside Alex Illingworth and Rosanna Burcheri. He joined Artemis from Taube Hodson Stonex and has also worked at Dresdner Kleinwort Benson and Phillips & Drew. He has been in investment management since the late 1980s.

Charlie Fricker - Fund Manager:

Charlie has worked on the Vermeer Global Fund¹ since launch. He read economics at Exeter University and in 2014 joined Psigma on an internship, working closely with Tim Gregory before moving with him to Vermeer. 

Tim Gregory - Lead Fund Manager, Goshawk Global Fund:

Tim began his career in investment in 1985 with A J Bekhor. More recently, while living in Australia, he was a founder of Psigma Investment Management (London), where he was Chief Investment Officer and subsequently Head of Global Equities until December 2015. He returned to England in February 2014 as Head of UK and Global Equities before leaving to co-found Vermeer. 

Alex Illingworth - Lead Fund Manager, Global Balanced Fund UCITS ETF (ROE LN)²:

Alex has run global equity funds since 1997. He started his career at Rothschild Asset Management, running institutional global equity mandates. More recently he spent 12 years building a global equity business at Artemis Investment Management. He has run mutual funds, institutional money and investment trust mandates. He founded Goshawk Asset Management LLP with the backing of Harwood Capital. He also sits on the Investment Committee of the Royal Academy of Engineering. 

James Rowsell - Fund Manager:

James started his career at Smith Keen Cutler, followed by senior roles at Quilter Goodison, James Capel, Salomon Brothers and Citigroup. From November 2011 to November 2014 he was CEO of Cantor Fitzgerald Europe, where he played a key role in the turnaround of the business following the financial crisis. He was responsible for equities, equity derivatives, fixed income, corporate finance and both equity and fixed income trading. James co-founded Vermeer. 

Eternal

Trevor Angus, CPA – Partner, Chief Operating Officer & Chief Compliance Officer:

Trevor is a partner and the Chief Operating Officer and Chief Compliance Officer at Eternal Capital. He has 20 years of experience in COO and CCO positions. Mr. Angus was Chief Financial Officer and Chief Compliance Officer at Calixto Global Investors. Prior to that, he was Chief Financial Officer at Everest Capital. Mr. Angus received his Bachelor of Business Administration with minors in Mathematics and Economics from Brandon University. He is also a member of the Canadian Institute of Chartered Accountants.

Min Chen – Partner and Co-Portfolio Manager: 

Min is a partner and co portfolio manager for the Emerging Markets Strategy at Eternal Capital. Min also covers China, non-tech Taiwan and ASEAN. He has 20 years of experience in investment management and research. Prior to joining Eternal Capital, he was the Head of China both at Somerset and Redwheel. Previously, he was Managing Director at Everest Capital, responsible for investment management and research in the Asia region. He holds an MBA from Yale School of Business and an MS in Economics from Shanghai Institute of Foreign Trade in Shanghai. Mr. Chen is fluent in Mandarin and Shanghainese.

Patricio Danziger – Founding Partner, CIO & Portfolio Manager: 

Patricio is the founding partner, CIO and portfolio manager at Eternal Capital. He has 21 years of experience in investment research and management. Patricio was a partner at the Redwheel Emerging & Frontier Markets Equity team, where he was a member of the investment committee. Patricio previously held the position of Managing Director at Everest Capital, where he was responsible for portfolio management and investment research in Latin America. Previously, he was an analyst and portfolio manager at MBA-Lazard. He holds a BA degree in Economics from Universidad de San Andres in Buenos Aires and an MBA from University of Chicago Booth School of Business. Patricio is fluent in Spanish and conversational in Portuguese and French.

Marcelo Telles, CFA – Partner and Head of Research: 

Marcelo is a partner and the Head of Research. He also covers EM financials for the Emerging Markets Strategy at Eternal Capital. He has 26 years of experience in investment research and management and a deep expertise in the financial services sector. Prior to joining Eternal Capital, Marcelo was a Managing Director at Credit Suisse, in the roles of Head of Research and Head of the Financials team for Latin America, leading research teams in the US, Brazil and Mexico and participating in the global research collaboration effort based out of NY. Marcelo was a top-ranked analyst for 18 straight years per Institutional Investor surveys. Marcelo has a Bachelor’s degree in Business Administration from Fundacao Getulio Vargas in Sao Paulo-Brazil, is a CFA charterholder, a Columbia Business School alumnus, as a graduate of the Advanced Management Program and Global Banking Program, and holds certifications in Python programming and Blockchain. Marcelo is fluent in Portuguese, Spanish and intermediate level in German.

Vanessa Quiroga, CFA – Partner: 

Vanessa is a partner and covers Latam & EEMEA. She has 20 years of experience in equity research and management at Credit Suisse, where she was the Head of Research in Mexico. She led coverage of several global companies based in Latin America as well as many sectors including real estate, cement & construction, and metals & mining. Additionally, at Credit Suisse she was involved in 18 capital offerings. Vanessa is a co-founder of Women in Finance, a non-profit organization that aims to provide the necessary tools for other women in the Mexican financial industry to advance in their careers. Vanessa holds a BA degree in Economics from Tecnologico de Monterrey in Mexico.

Shawn Tan – Partner: 

Shawn is a partner and covers India, Taiwan (tech) and South Korea for the Emerging Markets Strategy at Eternal Capital. He has 23 years of experience investing in Emerging Markets. Prior to joining Eternal Capital, he was a portfolio manager at Third Rock Capital, an analyst at the tiger fund Kelusa Capital and an associate at Blackstone covering the Asia region. Shawn holds an MBA from Harvard Business School and a BA degree in Economics from Northwestern University.

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BEECHTREE CAPITAL ANNOUNCES MEMBERS OF ITS NEW ADVISORY COMMITTEE

London – 10th February 2025. Beechtree Capital Limited (‘Beechtree’) is delighted to announce the members of its newly formed Advisory Committee. With immediate effect, Managing Director Tom Norman-Butler is joined on the Committee by Bold Partners Co-Founders, Marcus Bolitho and Will Gold. In addition, Rob Burdett, who is Head of Multi-Manager at Nedgroup Investments, has been appointed as Chair of this committee in an advisory role.

Founded in September 2024 by Tom Norman-Butler, the former Head of Business Development at Montanaro Asset Management, Beechtree is an outsourced distribution and client servicing business focused on the UK & Ireland. The company aims to build long-term partnerships with a small number of highly regarded and exceptional active fund managers. It will typically look for specialists with a differentiated and proven investment approach and, above all, aims to find strategies it believes will add value to its clients.

The four members each bring unique skills to the Advisory Committee. Importantly, they all recognise the huge demand among both institutional and wholesale clients for genuinely differentiated strategies, from proven investment teams, and that this must be combined with first-rate service, underpinned by deep experience and knowledge of what clients’ value. Similarly, they all appreciate the desire of talented investors to focus on their core activity, as stewards of the capital entrusted to them. All have every confidence that Beechtree will deliver exactly this combination, to the great benefit of clients and investment partners alike.

Tom Norman-Butler, Founder and Managing Director of Beechtree comments: “I’m thrilled Marcus, Rob and Will have agreed to join our Advisory Committee. Both Marcus and Will bring deep expertise in financial marketing and communications, therefore, we are excited that all Beechtree clients will be able to benefit from their expertise as part of this partnership. 

“Rob needs little introduction! He brings a vast wealth of experience from the world of manager selection and fund management. As the Advisory Committee Chair, Rob’s role will be to provide invaluable guidance as we seek to partner with the highest quality active managers, as well as helping us understand the fund buyer’s point of view. 

“We have been overwhelmed by the response since announcing our launch before Christmas. As a result of the interest in our strategy, we look forward to announcing some exciting news regarding investment partnerships in the coming weeks. We also welcome conversations with fund managers looking to introduce their strategies to investors in the UK and Ireland.”

Bold Partners co-founder Marcus Bolitho said: “We are delighted and honoured to be joining the Advisory Committee of Beechtree and are looking forward very much to working with Tom, and hugely respected committee Chair, Rob Burdett, in support of Beechtree’s clients and investment management partners.”

Bold Partners co-founder Will Gold added: “Having announced the launches of our respective businesses barely a week apart, and having all built our careers in established asset management firms, it felt only natural to explore opportunities for collaboration with Beechtree. From our earliest discussions, it quickly became clear that we are fully aligned in terms of both philosophy and values.”

Rob Burdett, Chair of the Advisory Committee, concludes: “I was delighted to accept Tom’s invitation to Chair the Advisory Committee at Beechtree. Alongside Marcus and Will, I look forward to supporting Tom in this advisory role.” 

ENDS

Media Enquiries:

Vee Montebello 

Email: veemontebello@gmail.com

Mobile: 07872 665 149

Notes to Editors: 

Click HERE to find out more about Beechtree Capital Limited.

Click HERE to find out more about Bold Partners

Biographical details:

Marcus Bolitho is a strategic, client-aligned commercial marketing head with over 30 years’ experience. He has a strong track record in creating and growing financial services brands, including asset managers, into leading, distinctive and successful businesses within increasingly converging, regulated and sophisticated marketplaces. Marcus has led multiple successful marketing teams in delivering standout marketing distribution programmes, re-brands, communications, marketing automation, product and proposition development. Marcus holds a BA from University College, London (UCL).

Rob Burdett is Head of Multi-Manager at Nedgroup Investments, a position he has held since October 2024.  Prior to this Rob co-founded a Multi-Manager business for Thames River Capital in 2007 and spent 17 years managing the funds and team through several changes of ownership, culminating in the Columbia Threadneedle Multi-Manager LLP entity.  Assets peaked at £3.3bn.  Before this, after a period in wealth management, he established and ran similar Multi-Manager businesses for Credit Suisse and Rothschild Asset Management. Rob holds the CISI Diploma.

Will Gold is a proven and commercially focused marketing leader and senior adviser, drawing on a financial communications career spanning nearly two decades. He has noteworthy expertise in the asset/investment management sector, backed by deep investment knowledge and 16 years’ experience in house in international asset management firms. He has a broad creative skillset, deployed with a singular focus, namely, to develop and build trusted brands, with genuine stand-out, across diverse client segments and geographies. Prior to moving in house, Will worked as a journalist covering the asset finance sector, and as a pension and investment communication specialist at an actuarial consulting firm. Will holds an MA in Modern & Medieval Languages (French & German) from the University of Cambridge.

Tom Norman-Butler is Managing Director and Founder of Beechtree Capital. Prior to founding Beechtree, Tom spent 15 years at Montanaro Asset Management, including 8 years as Head of Business Development. Tom has an extensive network of contacts in the UK & Ireland spanning both wholesale and institutional, and a proven track record of raising assets. Tom holds a BSc in Mathematics and French from the University of St Andrews.