Hedge Funds in Miami?

Was wondering if anybody knew of any reputable shops in the Miami area. The only ones I know of are Tepper's shop and Universa Investments, neither of which do much recruiting. Google hasn't helped me much with this one, so I hoped someone on here would know. Thanks!

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Comments (22)

Jun 14, 2020 - 9:19am

I really don't think Miami breeds a culture of success. Traders are much more productive when the weather sucks. Plus, it's just not an intellectual city at all. Pity given the taxes.

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Jun 14, 2020 - 9:34am

I don't think that it is anti intellectual. Pretty boring so you can just focus on work like Buffet did his entire life. Issue is recruiting, but you don't need to pay that much once you get someone to go. Crap schools around though... It is worth asking why it worked well for Buffet. I don't totally buy the line that he is a non consensus thinker and being in a major city means you necessarily subscribe to group thinks. Imagine a hedge fund today trying to coax teams to move there? It just doesn't seem realistic.

What is the problem with Miami? Every trader I knew down there was in their last leg of a cushy retirement gig. It doesn't have a young, hungry culture. Also too many temptations otherwise, is very image focused, and a terrible place to raise a family imo. Weather is too nice to stay at the office late and be fully motivated - Could not see rationally moving a team down there. Texas seems more plausible if you want a red state honestly. If the head guy is that good and really wants to be down there - sure it could work - but I don't see it being optimal if you are serious and think there is a stigma with investors.

Jun 14, 2020 - 11:09am

I dislike blanket statements like this. Any senior business person worth their salt will tell you that geography is practically irrelevant at the level you are describing. What matters most is business fundamentals.

If a firm has a niche part of the market cornered and happens to be in Miami, then that is probably a better business to join than one that has crazy competition in a secularly declining part of the market but is in San Francisco/New York/Boston/Washington D.C./etc.. City effects do not overwrite business fundamentals.

For all the 20 somethings on this forum... remove city from the equation and focus on fundamentals.

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  • Research Associate in HF - Event
Jun 14, 2020 - 1:37pm

first off - why do you keep saying "traders", investors are not traders. If you are a lucky trader and attribute all your luck to being in NYC; good for you, no one really cares.

Second - no one cares where you live if you can do your job effectively. Case in point, we are all currently scattered around the US and doing our jobs just fine.

Third - there's many many successful investments firms in non-NY/SF. You really believe having good weather dictates whether you'll work hard or be successful? I thought I've seen bad takes on this site but this one is up there.

Fourth - I'm sorry OP about your family situation; if I was in your shoes I would also be focusing on Florida-opportunities. It would help if you specify what opportunities you are open to given your constraints. For example, there's actually quite a few Florida-based value managers, in addition to distressed PE (Sun/HIG/Bayside), a few event/ditressed HFs (not whole teams moved down but the founders/CIOs clearly have - Icahn, Tepper, Rubin, Tannenbaum/Fredman etc.) and a plethora of LMM PE (don't know specific names but I'm sure there's a database out there that tracks funds based in Miami). I also noticed the RX in your title - i believe there's one RX advisory firm in Miami that does sovereign representation. Name is escaping me but that is also a potential opportunity.

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