There s a double-whammy for hedge funds - a tougher fundraising environment puts pressure on keeping costs low, and there s a need to pay for talent. Companies like Millennium Management and Ken Griffin s Citadel are launching some of the biggest startups of all time, competing to attract top investment professionals, according to a report by Bloomberg.
While hedge fund managers are lining up to launch a raft of new multi-billion dollar multi-strat funds this year, they could be doomed to failure because of 'insane' start-up costs, industry veteran Ton Wagner has warned, according to a report by Bloomberg.