Hedge Fund Managers & Pedigree - Who Knows You?
In the hedge fund industry t is not what you know, it is not who you know. It is who knows you. MPC Investors is a $3B hedge fund based in London. Last month they raised $900M to launch a pan-European directional long/short fund. This was while a higher than usual number of funds were losing assets or struggling to gain as much progress as they had during first two quarters of 2007. To launch this fund they closed two Asian-based hedge funds that had failed to reach critical mass assets under management(aum) levels and went shopping for the best hedge fund talent they could possibly fine. "I wanted to be able to look our clients in the eye and say this is exceptional," said Peter Harrison currently the Chief Executive Officer of MPC Investors. After hiring them he has also said, "you have to give your portfolio managers the best chance to outperform. That gets lost in many firms where they are trying to do a bit of management but also spending their time on strategy,...