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Bailey McCann, Opalesque New York:

Social Alpha aims to be a different kind of hedge fund networking group. Forget the panels, drink tickets, and service providers - instead Social Alpha will function more like a meet up for managers to connect and chat without a program. The group is founded by Dr. Rainford M. Knight of the Florida Institute of Finance, who will be backing the venture on his own.

"I really just wanted to set up a professional networking opportunity that wasn't all about invitations or speakers or getting sold something. All are welcome and we just want to facilitate conversations," Knight says in an interview with Opalesque.

Social Alpha is the latest entrant into a growing hedge fund scene in Florida. The Florida Alternative Investments Association (FLAIA) and the Hedge Fund Association (HFA) are also on the ground. Knight is already a member of FLAIA and plans to work across both organizations to forge partnerships.

He says the growth of the hedge fund industry in Florida is partly driven by tax laws which are beneficial to hedge funds managers along with quality of life. "I think its taxes sure, but I think people get tired of the New York scene, things are a little more normal here."

The first event will be at the Seagate Hotel in Delray Beach, on March 6. Knight says he plans to hold events approximately every eight weeks at locations throughout the South Florida region.

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