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June 08, 2006
London Lures US Hedge Fund Managers
The United States has been the main breeding place for hedge fund managers for years. Now it seems that other cities in the world are luring the leading US hedge fund managers to shift their base. Three leading American hedge funds are planning to open offices in London in order to gain access to European investors and increase their trading in that region. These three leading hedge funds are Paulson Partners, Touradji Capital and Canyon Capital. Hedge fund managers in the US believe that there are big investment opportunities in Europe and particularly in London city. The steady growth of Euro against the US dollar has boosted their confidence further.
According to reports, London has steadily captured America's share of global hedge fund assets. London's share in global hedge fund operations has doubled in the past couple of years. On the contrary, the US share in global hedge fund operations has dropped to 62 percent from 86 percent. American hedge funds find it easier to operate from London as they get easy access to investment banks, accountants and lawyers in the city. TIMES ONLINE has published an article on the Same Topic.
US hedge funds that opened in London recently: DE Shaw, Cyrus Capital, Highland Capital Management, GoldenTree Asset Management, Oak Hill Advisors, King Street Capital Management and Blue Mountain Capital Partners. US hedge funds that have long been present: Citadel Investment, Tudor Investment, Moore Capital and SAC Capital.
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