Kansas City Hedge Fund Keep Earning Strong ReturnsWhetstone Capital Advisors, LLC, a Kansas City-based hedge fund investment manager, keeps on growing reaping strong returns.
When Whetstone Capital Advisors LLC President David Atterbury told his friends in 2010 that he was leaving New York City to open a new hedge fund in Kansas City, they thought he had gone crazy.
Most people move to New York to start a hedge fund, not leave it. But Kansas City is where Atterbury and his partner, Thomas McGannon, grew up, and they knew what it had to offer from a quality-of-life and a financial services perspective.
"The startup costs were probably a fraction of what they would have been in New York, and because of that, we've been able to pass along some of our savings as far as infrastructure costs to our investors by charging fees that are about 60 percent of the industry normals," Atterbury said. "Kansas City is also an under-appreciated investment center. It's got names like Waddell & Reed, American Century, Tortoise Capital and Kornitzer Capital. There's a deep bench of both investment analyst talent and service providers."Source: Kansas City Business Journal