Hedge Fund Founder Shot To Death At Home

A hedge fund founder has been found shot to death in his New York apartment, and his son is in police custody.

Thomas Gilbert, 70, was shot in the head on Sunday afternoon in the bedroom of his apartment on Manhattan's East Side, police said.

He was pronounced dead at the scene, where a .40-calibre handgun was recovered.

His son Thomas Gilbert Jr, 30, was taken into police custody and was being questioned.

No charges have been filed. The younger Mr Gilbert was taken into custody after barricading himself inside his home, according to the New York Daily News.

The victim, a graduate of Princeton University and Harvard Business School, was a veteran of Wall Street.

In 2011 he founded Wainscott Capital Partners Fund, which has $200m in assets and focuses on the biotech and healthcare industries.

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