Hedge Funds

Harvard man snubs fund of funds


Former Harvard Management Company's Jeff Larson has managed to raise a staggering $2 billion for his new fund Sowood Alpha and has told the fund of funds community that he doesn't want their money and that they don't need to bother completing due diligence on his new multi-strategy operation.

Not surprisingly, given his pedigree and his 12-year career at Harvard, Larson has been very successful at attracting institutional money with $500 million coming from his former Ivy League employer. However, no one had expected him to issue such a direct snub to the funds of