Since the 1990s, hedge funds have risen to become the juggernauts of the investing world, and now new firms are springing up at a rate unseen for a decade.
At least five new funds, managing $1 billion or more each, will open in 2015. Last year, there were eight in total.
Folger Hill, headed by Sol Kumin, formerly of SAC Capital
Governors Lane, headed by Isaac Corre, from Eton Park
Lion Point, under Didric Cederholm, from Elliot Associates
Thunderbird, headed by David Fear, from Ziff Brothers
TED, under Chris Rokos, from Brevan Howard
Since the start of last year, four new hedge fund managers came from Ziff, which lost some important people after deciding to reorganize. But the Ziff brothers will still invest in David Fear's new Thunderbird Partners.
Another new firm, Governors Lane, will reportedly receive a fat check - up to $500 million - from billionaire Goerge Soros when the event-driven fund opens.
Remember, like all start-ups, new hedge funds can face big obstacles or even sputter and fail, despite how excited investors get or how many billions they raise in the beginning. And remember, modern-day greats like Dan Loeb and David Einhorn started out with just a fraction of a billion.
So who knows if starting with a splash is really what counts anyway?
