Kansas City Hedge Fund Keep Earning Strong Returns
Whetstone 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