A pragmatic attitude, a clear plan and a
well-oiled marketing strategy will help all hedge funds raise
initial assets but, says Nick Evans, there is no secret formula
to a successful start-up
If your name is Eric Mindich, the chances are you won't be
reading this. When the former Goldman Sachs risk arbitrage star
started his own firm, Eton Park, in New York and London last
year, he kicked off with assets of an incredible $3.5
Despite being the biggest ever hedge fund launch, and
despite having lock-ups on the capital raised of up to three
years, Mindich and his partners were turning away money.
Raising assets was not, in short, a problem.
Nor was it a problem for Luca Bechis - albeit on a
deliberately smaller scale. When the former Egerton Capital
analyst quit to launch his own firm Richmond in London last
year, he took with...