So I am in no way part of the hedge fund industry, but, I am curious that if someone were to have the credentials and the track record of performance could a successful hedge fund be started up somewhere other than NY/NJ/CT and if they could be successful does anyone think they could ever compete with some of the larger funds around currently or is this business solely dependent on being near Wall St?
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There are funds in FL and Cali too. Dallas as well. But, that question isn't specific enough. If you have a REAL track record, money is easy. You could also find a fund with a similar strategy and interview, leveraging their aum and infrastructure
I gues what I was trying to ask is, if you started a fund, in let's say Houston, and you had the track record in your opinion would that start up hedge fund be competitive to a similar start up on wall st? Or would the wall st hedge fund have the advantage of being in that fincancial environment?
There more money in NY than Houston but it's harder to get NY market share.
Fund location has nothing to do with it. Tons of funds in SF, Dallas, Chi, Boston, LA. in addition to places like Florida (Eagle Asset Mgmt), Washington (Vulcan is primarily PE but runs a public equities fund), Minnesota (Pine River),
I've thought about starting a fund in South Dakota just so on my marketing materials I can put: "best performing fund*." Should help with fund raising.
*in South Dakota
The question here is whether your name/track record/performance/comp is good enough to pull talent away from the major centers. If you are a one man shop then it wouldn't matter at all.
Can you elaborate more on what you mean by if you're a one man shop it won't matter?
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