Starting a HF
I have been in a healthcare SMfor the last five years and considering moving given lack of upward mobility. I have considered the range of options - another SM HF, MF, MM, and everything in between. One option I have not considered seriously is starting my own HF. My biggest concerns are:
I don't have a LP rolodex (might be the biggest barrier)
I have to setup HF infrastructure - legal, finance, compliance, and trading
I have to hire every single member (which I will enjoy but it will be time consuming)
Lack of experience in setting up HF incorporation and infrastructure documents
Are these valid concerns and are these the reason why some capable HF folks decide not to start their own fund?
Can we outsource parts or all of this work. For e.g.,
LP rolodex: are there consulting agencies that help approach LPs to raise capital on a risk basis (i.e. raise 100m and take 1-2% cut of the raise)?
HF infrastructure: I know part of this can be outsourced - e.g., controlled or finance function
Headhunters to recruit
Known legal firms that help HF startups
Have you guys seen this being done in the past?