Hedge Funds

Seeding platform just the start

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Apparently having made the innovative decision that hedge funds themselves make the best incubators, Merrill Lynch is looking to sign up five or six big hedge fund operations to mimic a seeding platform it just launched with Pequot Capital.

Which other funds the bank is speaking with is not clear, but industry insiders expect it to look a lot like the venture that it has bankrolled with $300 million of the firm's own money at Art Samberg's $6.7 billion Stamford, Conn. firm. And if it is successful, other banks are expected to follow.

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