For Hedge Funds This Year, $1 Billion Is the Loneliest Number
- Only a few firms will start with more than $500 million
- One firm, Woodline Partners, is expected to exceed $1 billion
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Hedge fund managers set on starting their own firms in 2019 face the worst money-raising environment in years.
Only one is slated to begin with more than $1 billion: San Francisco-based Woodline Partners, founded by former Citadel duo Michael Rockefeller and Karl Kroeker. The next-biggest are being built by veterans of well-known hedge funds that have either closed or are winding down, according to people familiar with the plans.