With apologies to Horace Greeley and the cause of Manifest Destiny, hedge funds have caught the migratory fever and are loading up their wagons — albeit with office furniture — and pursuing new frontiers such as South Florida, which is viewed as being rife with opportunity (and wealthy residents).
New York-based SkyBridge Capital joined those ranks in March when it added a Palm Beach Gardens office. The site will serve as regional headquarters for Southeast sales and marketing. The $12.5 billion firm attributes its decision to the encouragement of local economic development officials, high-net-worth potential clients and existing SkyBridge clients.
London-based RWC Partners then announced in May it was establishing an Emerging, Frontier and Asia equity business effort, with a 15-person investment team previously at Everest Capital, and opening a new office in Miami to support activities. In conjunction with the Miami announcement, the $10.1 billion firm announced plans to open an office in Singapore….. read more here