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Michael Corcelli From Kirsten Bischoff, Opalesque New York:
Florida is known as a place to retire. Now, it is becoming known as a place for hedge funds. The Florida Alternative Investment Association (FLAIA) last week held its inaugural investor-driven One-on-One event where mostly Florida-based hedge fund managers met with institutional capital sources. The event attracted approximately $82bn of institutional capital allocators and a pool of approximately 100 hedge fund managers.
"The genesis of the idea for the One-on-One event came from a top 5 educational endowment looking at geography as a factor for driving their manager search and selection process in the hedge fund space," Michael Corcelli, the FLAIA founder and Chairman told Opalesque.
According to FLAIA board member Dr. Rainford Knight, "the event served as the start of building out a hedge fund cluster and footprint in Miami not only for Florida-based funds but also for hedge funds based in Latin America. We are in Florida and Miami is the "gateway" to Latin America, so the convergence makes sense."
The event also gave Corcelli a chance to hone in on what institutional investors are looking for in managers and how they approach tactical asset allocation during uncertain times.
First and foremost, investors are looking to identify managers that have an institutional infrastructure, good track record, and have been operating under the radar of main stream insti...................... To view our full article Click here
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