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Hedge fund founder death: son held

A 70-year-old hedge fund founder has been found shot dead inside his New York flat.

Thomas Gilbert was shot in the head in his Manhattan apartment in Beekman Place on the city's East Side, police said. He was pronounced dead at the scene.

Police said they are questioning his 30-year-old son, Thomas Gilbert Jr. No charges have been filed.

A handgun was found near the body, police added.

The elder Gilbert founded Wainscott Capital Partners Fund in 2011. The fund has 200 million dollars (£131 million) in assets and focuses on the biotech and healthcare industries.

Mr Gilbert previously co-founded Syzygy Therapeutics, a biotech asset acquisition fund.

The shooting was a rare act of violence on Beekman Place, just north of the United Nations in the Sutton Place neighbourhood.

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