Service Providers See Big Market In Small Hedge Funds

Feb 10 2006 | 9:48pm ET

By Deirdre Brennan 

Small hedge funds mean big business for companies catering specifically to their needs. Increasingly, service providers are taking notice of this segment of the hedge fund industry, which includes firms with 1 to 5 employees managing under $50 million in assets.

"The large prime brokers have ignored or don't want to deal with the smaller clients; they obviously want the large, behemoth hedge funds," said Robert Miles, managing partner of Wonderdog Capital, a small long/short equity hedge fund that he founded in 2002. His firm currently uses online broker BrownCo, and does not employ a prime broker or an administrator.


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