WEST PALM BEACH, FL (HEDGECO.NET) – In the past few years many money managers have departed their firms to venture into hedge fund management arena. Steven Mandis, another of Goldman Sach�sproprietary traders, has also recently left the firm in favor of New York-based Halcyon Management Co. Mr. Mandis was made the chief investment officer for Halcyon Management�s special credit andselect opportunity funds.
Goldman Sachs has recently seen a host of its former managers leaving to begin their own hedge funds. Eric Mindich, Dinakar Singh, and Jon Bloom, all former Goldman Sachs managers have recently left the firm for similar reasons.
Some traditional money managers have now started their own hedge fund management ventures, and this strategy may help them stop the crossover of their money managers into the hedge fund management arena. J.P. Morgan Chase & Co. has announced plans to increase its offerings of hedge fund products to investors. This is the latest effort of Wall Street to get a piece of the pie in the growing hedge fund industry. J.P.Morgan is buying a majority stake in Highbridge Capital Management, a hedge fund management firm offering multi-strategy hedge fund products.
Another manager, Citigroup, is developing a multi-strategy hedge fund management group. According to published reports, Citigroup has hired a staff of 15 veteran hedge fund managers to run its hedge fund portfolios. Such trend is projected to increase in the coming years.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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