Money managers under the microscope
Starting a hedge fund from scratch has become notoriously difficult in the last couple of years.
Gone are the days, it has been said, when two traders with a terminal could rent out office space in Mayfair and attract a few hundred million dollars. Instead traders are staying put, either in banks (where they can) or in larger hedge funds.
Or perhaps not.
With pressure from French president Nicolas Sarkozy to cut back on banker bonuses, the talk is that talented traders could once again be looking to start up their own funds, where they can set their own pay.
Today the launch of Nexar Capital, a new hedge fund firm set up by former Soc Gen bankers and backed by private equity firm Aquiline Capital, was announced.