New Managers
February 2013
News & Perspectives: Recent news, views and findings of interest to emerging hedge fund managers and investors
Citi: new hedge fund launches have been creeping back up "Performance is a symptom of change not a trend," said Alan Pace, managing director, global head of sales and client experience at Citi Prime Finance at a recent press event. In the last six months, new hedge fund launches have been creeping back up with a renewed focus on the US equities market. The capital for those launches is also coming from more places than just seeders or friends and family - family offices and in some cases, institutions are getting in early. (Opalesque Exclusive). For managers seeking a location, there is Florida's Traders Alliance Quite a few hedge fund managers have relocated to Florida, it was said at the recent Opalesque Florida Roundtable. Maxime Dupont, Founder, CEO of the Quantam Group said, "Our firm has joined an initiative called Traders Alliance. We rented and set up a nice office in the center of Brickell for 20 or 25 spots, extendable. The idea is to create a kind of a village of prop trading groups that can unite their forces to share costs like rent and the redundant fiber optic internet access they need to have in order to operate properly. The stability of your operations is put to test with each due diligence visit of prospective investors, so it is helpful for all of us to do these things right. We started the project in (2012) leveraging on exactly the conviction that Miami is a great place to live and to trade. And there is still enough to offer for other industry members to come and to settle here easily and at reasonable cost, either to establish headquarters or a simple satellite desk. So, we hope that the industry continues to grow and more firms, traders and also emerging managers make Mia...................... To view our full article please login
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