Hedge Funds

Spruce grows on technical talent base

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With an ambitious remit to cover both traditional and alternative investments, Spruce’s broad and analytical view of the investment universe makes its advice all the more valuable for clients

By Claire Makin

John Bailey
For a relatively small player, John Bailey’s Spruce Private Investors has attracted some well-known talent. The newest senior appointment at the $3 billion firm is Robert Bastone, who built hedge fund infrastructures for both Tiger Management and Ziff Brothers. Bastone joins a team that Spruce has drawn exclusively from other brand-name institutions including JP Morgan, BNP Paribas, and MIT’s Lincoln Laboratories.

“Step one always is the people,” Bailey says. He judges Spruce’s technical skill set to be a match for any of the firm’s competitors, large