New Hedge Funds

New Hedge Funds

New Hedge FundsAs part of our ongoing effort to expand our Hedge Fund Startup Guide please find below a short article excerpt on new hedge funds coming out this year:

Recessions, it is said, are great times to start new businesses. It seems that’s as true for hedge funds as it is for widget manufacturers or high-tech start-ups.

With banking lay-offs and defections at an all-time high, money managers are seeking greener pastures by going it alone. In most cases, they are happy to take a significant decrease in pay for more autonomy. For while it’s true that the hedge fund industry is constantly abounding with new start-ups and the next wannabe George Soros or James Chanos, this time round even those who are accustomed to running billions of big banks’ funds are beginning with as little as a few million dollars.

Take Hari Kumar, a former partner at $11 billion TPG-Axon Capital, a hedge fund giant which he helped found with three other fellow ex-Goldman Sachs prop traders. Along with Julian Smith, also a TPG-Axon employee, Kumar is now setting up a much more scaled-down Singapore-based fund called LionRock Capital. Rather than have to answer to today’s swelling majority of nervous investors however, Kumar has chosen initially just to manage $75 million of capital provided by him and his partners, according to AsiaHedge, a hedge fund industry publication. source

To view additional articles and resources on hedge fund startups please see our Hedge Fund Startup Tools.

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