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Angelo Robles Beverly Chandler, Opalesque London:
Delegates at the Opalesque 2012 Connecticut Roundtable sponsored by Deutsche Bank, Taussig Capital and Eurex discussed the evolution of the family offices role in hedge funds.
Angelo Robles, Founder and Chief Executive Officer of the Family Office Association recounted the fact that single family offices were the original early movers in hedge funds. "Going 10, 15 and more years back, family offices were practically the driver behind every major hedge fund, even the so-called hedge fund legends. That was way before seeding became popular among some institutions or fund of funds".
However, recent years have seen institutional investors move into the major hedge funds as consultants, committees and decision makers within institutions choose major funds, the equivalent of 'buying IBM Robles said.
"That becomes an interesting dynamic" he said as you probably cannot go wrong making
allocations to different $10 billion managers. "But I know the families that do not have the tax
advantages, that have unique challenges, that have multiple distributions and other challenges, they
need alpha in this challenging world".
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