Kepos Capital, the new hedge fund helmed by former Goldman Sachs Global Alpha co-chief Mark Carhart, has a new home: the ugliest building in New York.
Kepos will set up shop in The New York Times building at Eighth Avenue and West 40th Street. The building was recently named the Big Apple’s least aesthetically appealing by the recently-published fifth edition of the august AIA Guide to New York City, which calls it “as gray and dour as a rain-soaked copy of the Sunday Styles section.”
The hedge fund, which debuted earlier this year, will move into the furnished 44th floor in August. It is currently based out of another trophy property, 666 Fifth Avenue.
Carhart set up Kepos earlier this year. He and his partner, Raymond Iwanowski, left Goldman last year after their one-time Cadillac of hedge funds crashed and burned. Global Alpha’s run of unprecedented success came to a sudden halt in 2007, with the once-$12 billion fund losing 40% that year and continued to hemorrhage assets and post poor performance both in 2008 and last year.