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

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of