Launches & Closures Hedge Funds

How Grossman launched with $900m


SAC Capital Advisors alum Matt Grossman kicked off 2009 on a high note, launching Plural Investments, his own long-awaited firm, with $900 million in assets.

How was Grossman able to raise so much money in today's fundraising environment? Day one investors, a group comprised entirely of institutional investors, were given a piece of Plural's general partnership. Plural's initial investors had to commit 2.5% of their allocations last May, allowing Grossman to lock up capital long before the September freeze. Plural's principals have also invested some of their own money in the venture. The lockups should make it easier