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Ron Geffner From Kirsten Bischoff, Opalesque New York:
For hedge funds, Boston is a great town to manage money in, commented Eric Brock, Portfolio Manager at $3.3bn Clough Capital during the last Opalesque Boston Roundtable held in late 2010.
The city is also a major financial center for traditional asset managers, making it easy for hedge funds to secure visits from potential investors, as well as executive teams from large corporations visiting to speak with analysts. Hedge funds in the city also benefit from the pool of experience at some of the nation’s top universities as well as the investment teams associated with those universities’ endowments, many of which have cycled out to join and even launch their own firms. However, last week, Massachusetts State Attorney General William Galvin, (who is currently doing battle in civil court with NJ hedge fund manager Phil Goldstei), proposed new regulation that would crack down on hedge funds in that state that use expert networks.
In the wake of Dodd Frank, states will regulate hedge funds that do not fall under the jurisdiction of the SEC. This means that cities like Boston, that were previously popular hedge fund centers, could potentially turn hostile to smaller managers. At the very least they will have to turn their at...................... To view our full article Click here
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