BNP's Sugarman Sees More Hedge Funds Shuttering In '11

Nov 3 2011 | 8:45am ET

BNP Paribas' U.S. capital introductions chief sees a continuing change of the guard in the hedge fund industry this year.

Emma Sugarman told Bloomberg TV that "undoubtedly we are going to see more hedge fund closures this year." Sugarman specified that it might be well-established names at larger hedge funds leading that charge.

"I think we started to see it earlier in the year with big, blue-chip names—people like Stan Druckenmiller at Duquesne and Bruce Kovner stepping back from Caxton," she said. "It's not as much fun working in the hedge fund market anymore."

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…