Wed, Sep 28, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Not every hedge fund starting out in Connecticut will succeed

Thursday, October 18, 2012

amb
Steve Simmons
Benedicte Gravrand, Opalesque Geneva:

Participants at the recent Opalesque Connecticut Roundtable agreed on the whole that while the quality of life is high and the costs of maintaining a business are lower in Connecticut, it just ain't New York - as New York is the place where funds can have a superior infrastructure, be close to service providers and investors. And hedge fund start-ups above all need that proximity. Although those hedge funds starting out in Connecticut could survive with a "robust business plan" and benefit from "thinking more clearly."

"We are seeing numerous funds launching in Connecticut, although not every one will succeed," said Steve Simmons, Managing Director at Southport Harbor Associates, a hedge fund consultant.

"You could be a fantastic trader within a prop trading environment in New York City," he continued, "but if you are unable to create a proper business and the requisite infrastructure, which can be difficult to do at times, being removed from many of the service providers who are a stone's throw away in NYC, you will fail."

We all dream of no longer working for a big firm and starting out on our own, he told the Roundtable, which is the same romantic idea behind starting a bed and breakfast. However if you do not know how to cook or how to advertise, the business will not suc......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Nobel Sustainability Trust, Prince Albert II of Monaco help launch major new initiative to drive sustainable technologies[more]

    Matthias Knab, Opalesque: The Nobel Sustainability® Trust ("NST") is leading a major new initiative to finance, incubate and accelerate the development of clean technologies. The initiative will start with the formation of the Nobel Sustainability Fund® ("NSF"). NSF will drive faster access t

  2. Studies - Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements, Cambridge: Look to private investments for best access to LatAm growth[more]

    Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements A new study of the hedge fund space by industry law firm Seward & Kissel LLP reveals a wealth of information regarding established hedge fund managers’ use of side letters—special agreements

  3. Activist News - Caesars 'optimistic' on deal with hedge fund creditors[more]

    From Reuters.com: Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion set

  4. Hedge funds recover from losses as central banks give markets a respite[more]

    Komfie Manalo, Opalesque Asia: The Lyxor Hedge Fund index was up 0.4% from the week ending September 20 (-2.4% YTD), supported by the willingness of central banks to remain accommodative, Lyxor Asset Management said in its weekly briefing. It ad

  5. Perry Capital closing flagship fund after almost three decades[more]

    From Blooomberg.com: Richard Perry, one of the biggest names in hedge funds, is calling it quits after 28 years. Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous periods in its history. In a letter to investors Monday, he said his style