Guys just wanted your opinion on something. Are funds becoming something big in Texas? Do you think they will be able to grow to similar degrees as the one in New York? Do you think austin could be a new investment hub?
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As of right now I know of two in Austin that have a decent scale, the rest is very small. Not really able to give insight on growth prospects but I'd wager that VC grows much faster than the HF scene in Austin. DFW seems to be a better bet since there's quite a few big ones I'm aware of over there.
I wouldn't bet on Texas becoming an investment hub, but I think there's some amount of appeal to running one from here. Being contrarian seems to be a lot easier and any money that you do make goes a lot further.
yup, i work at one in atx.
They are definitely popping up as PE is already well established in Houston and Dallas. It will be interesting to see if they grow any further, but I would not bet against a significant shift across the financial services industry to Texas and Florida. NYC will always be king, but no taxes and a rediculously low cost of living are hard to pass up....
Austin just seems to be blowing in general, so it makes sense that HFs, but particularly PE and VC firms, will spring up. Seriously everyone seems to have a positive view of Austin.
What about Hayman Capital, Kyle Bass' fund?
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