Hedge Funds

Three big names in Seattle plan new fund


A troika of Seattle business leaders are reportedly planning to launch a new hedge fund, named L1, that would source investment opportunities through mathematical models and Web-based analytics.

Nick Hanauer, co-founder of venture capital firm Second Avenue Partners, last week said he and his partners don't know anything about the market and think starting a hedge fund would be a very interesting way to learn about it, according to the Seattle Post- Intelligencer.

That was an odd comment considering Hanauer's pedigree as well as those of his partners. Rich Barton is the chief executive of Zillow.com, an online house