What is the pitch with levered long HFs?
Say I am an institutional allocator and I am being pitched by guys like Tiger, Altimeter, Dragoneer etc. Their product seems to essentially be levered long tech but I would think there are significantly cheaper ways of getting that exposure as an allocator?
I 100% understand L/S MM etc but the above seems like it's missing special sauce?
Also - let's ignore the private strategies for now. I get that side of it.
I texted a few friends who work inand their explanation was just that those funds are sexy but there must be more to it? lol