WEST PALM BEACH, FL (www.hedgeco.net) – Man�s group Plc Chief Executive Stanley Fink, said that more hedge funds around the world may sell shares to the public as part of efforts by their managers tolock in profits resulting from the expansion of the industry. According to Fink, about 10 hedge funds may go public within the next decade, Fink made his remarks at the Global Alternative InvestmentManagement Forum in Lausanne, Switzerland.
Find said, �Aging and greed�, will lead more hedge fund executives to sell shares, adding, �The desire to make money and build something of lasting value will encourage them to either sell to the institutions or to list.”
Few hedge fund managers have already gone public recently, in March 2004; RAB Capital listed its shares in the London Stock Exchange. Man group listed its shares in the London Stock Exchange about 10 years ago. Morgan Rutman, said, �There will be lots of guys who go public because it will enrich them greatly.�
Fink also said that, �Being a public company is quite a time-consuming thing and a distraction and probably involves us incurring a couple of million pounds of extra overheads a year at least.” Some hedge fund managers believe that going public by hedge funds is not particularly a good thing, Jean-Louis Juchault, founder and chief executive of Paris- based Systeia Capital Management, said that the volatile �nature of the business requires a stable corporate environment.” Fink believes that for one hedge fund that goes public, three to four other funds may likely sell to private buyers.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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