Sunday, 24 May 2015
Last updated 1 day ago
Apr 19 2012 | 10:37am ET
Mayfair remains the place to be for hedge funds in London. The thing is, fewer and fewer of them actually are.
The swanky neighborhoods of Mayfair and St. James's, home to almost 70% of central London's hedge funds five years ago, now count only half of them, Cushman and Wakefield says. Many hedge funds, especially smaller ones, are increasingly looking somewhat farther afield to—slightly—cheaper neighborhoods adjacent to the traditional hedge fund heartland, Knightsbridge, Marylebone and Soho, the Financial Times reports.
"Investors don't want to see hedge funds—particularly smaller ones—spending their money on swanky offices," Cushman's Henry Peto tells the FT. Mayfair and St. James's boast the second-highest office rents in the world, after Hong Kong.
Still, the search for deals on digs has only gone so far, Peto says.
"No one really wants to be more than two or three minutes away from Mayfair. When investors come into town for 24 or 48 hours, hedge funds want to be close to where they will be."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…