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From Komfie Manalo, Opalesque Asia:
Emerging managers face headwind in the current climate and also have to meet new regulatory demands. To survive, they need to raise enough assets to support the necessary infrastructure. Fortunately for them, this coincides with a current growth in the fund seeding business, according to the participants of recent Opalesque Connecticut Roundtable.
From what he has been seeing, Bryan Borgia, co-founder of Topwater Investment Management, believes that "going forward the industry is going towards the $100m seed versus doing say two $50m seeds." Topwater is a Norwalk-based asset manager that specializes in creating customized managed accounts programs for large investors. He said that during the Opalesque Connecticut Roundtable, which was sponsored by Custom House Group, a hedge fund administrator, and Taussig Capital, a consultant for financial services startups.
Joe Taussig, founder of Taussig Capital, cited as an example a key employee with a hedge fund manager who left in the middle of a deal, which created some problem for the fund.
"It turned out that Blackstone [had] seeded him with $100m, so again the $100m was the number and actually the number he had in min...................... To view our full article Click here
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