COOs speak up . . .
Steering firms through the market crisis, they ponder the
permanent capital question, among others
By Michelle Celarier
The stars in the hedge fund universe are clearly the managers.
But with billions of dollars at risk for increasingly
sophisticated investors, and the business more complex than
ever, another source of high-voltage power is emerging: the
chief operating officer.
These are the people responsible for making sure everything
is running smoothly, in good times and bad. In times of
calm, you have to prepare and ensure that you are protected in
times of crisis, says Bob Caruso, COO of Highbridge
Capital Management, one of the largest hedge fund firms.
Its not just a question of having enough cash and
liquidity to weather the storm, but also having enough capital
to put to work at the right time because there are significant
investment opportunities that follow market