Bessent Capital | Scott Bessent | Hedge Fund Notes

Bessent Capital

Bessent Capital | Hedge Fund Notes

The following piece on Bessent Capital and Scott Bessent (shown left) is being published as part of our daily effort to track hedge funds in the industry. To review other hedge fund research notes please see our Hedge Fund Tracker Tool.

Scott Bessent Bio: Scott Bessent was born in Conway, South Carolina. He graduated with honors with a B.A. from Yale College in 1984.

He is currently an adjunct professor of economic history in Yale College. Scott also serves as the Director of Investment Strategy and Research for Protege Partners, a New York-based hedge fund company.

Scott was Managing Director at Soros Fund Management from 1991-2000. He served as head of the firm’s London office for seven years and the head of global research for two years. In 2000, he founded Bessent Capital a +$1. billion hedge fund, which he converted to a family office format in 2005.

He is a frequent speaker on global financial topics. He has spoken at the Helsinki Stock Exchange, the Milan Bourse and The French Institute of Real Estate Analysts. Scott was also the subject of a chapter in a recent book on hedge funds, Inside the House of Money.

Resource #2: A Soros Fund Management stock picker, Scott Bessent, on Thursday said he quit to start his own investment firm, the latest departure from the shrinking money management company of fabled investor George Soros.

Bessent, 37, in October will start a series of funds that will primarily invest in European stocks. Bessent, a 10-year Soros veteran, will put in $150 million of his own money and will get an additional $150 million from George Soros and Soros Management, he said in a telephone interview.

Bessent is the latest executive to quit Soros Management, after Soros in April said he would scale down his firm and pursue a more conservative investment strategy. Soros, who became legendary for big bets on currencies, previously focused on exploiting macro-economic trends such the Japanese real estate bust and the creation of the single European currency.

Soros Management's top money managers, Stanley Druckenmiller and Nicholas Roditi, in April said they were quitting. The firm's chief executive, Duncan Hennes, last Friday joined the exodus and said he would resign his position at the end of this month.
Bessent's firm, Bessent Capital, expects to raise more than $1 billion from investors before it starts trading on Oct. 1. Bessent initially will have eight analysts and three traders, and offices in New York and London. source

Resource #3: If hedge fund managers are the rock stars of Wall Street, Scott Bessent is the front man. Mr. Bessent was one of the longest-running members of one of the most successful hedge fund groups of all time, Soros Asset Management, before it was essentially disbanded by founder George Soros early last year.

As a result, Mr. Bessent went solo in April. He has already achieved the industry's equivalent of going platinum: He quickly raised $1 billion for his eponymous firm, making it one of the largest hedge fund managers in the world. In doing so, he has surprised even himself


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