Palm Beach Developers To Launch Hedgie 'Hotel'

Mar 12 2013 | 8:55am ET

Developers in Florida are preparing to accommodate hedgies relocating to the Sunshine State.

The Palm Beach Executive Center has teamed with the newly formed real estate firm Hedge-Estate to launch the first hedge fund “hotel” in Florida's Palm Beach County.

The county, located about 40 miles north of Miami, has recently opened an office charged with luring hedge funds down from New York.

Owner Brett Forman says the executive center offers office space from 100 to 3000 square feet.

Hedge Estate founder and CEO Andrew Schneider says his firm has been “inundated” with calls from hedge fund and other asset managers looking to relocate to Palm Beach.

The “hotel,” according to marketing materials, puts fund managers “in an environment surrounded by other fund managers of the same caliber who can share trading and investing ideas, split expenses such as a Bloomberg terminal, and rent high end office space for a fraction of the cost.”

Although some 57% of North and South American hedge funds with at least $1 billion in assets are based in New York, the New York Post recently reported that hedge funds were flocking to Palm Beach County, drawn by low tax rates and the weather.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note