Saturday, 27 December 2014
Last updated 3 days ago
Aug 22 2013 | 12:57pm ET
Being in the basement isn't necessarily a bad thing for a hedge fund manager—if that basement contains two swimming pools, a cinema and a spa.
Polygon Investment Partners founder Reade Griffith is seeking permission to build just such basement beneath two adjacent houses he and his wife own in the Ladbrook Grove neighborhood of Kensington, reports The Telegraph.
The 900-square meter basement will include a staff lobby and three separate hallways.
Permission to dig won't come cheap, however. The Kensington council has demanded £825,000 for the permits, saying the money will be used to fund affordable housing elsewhere in the area.
Such payments, known as section 106 agreements, are and “usually confined to large-scale commercial developments or housing estates,” reports the paper.
A source close to Griffith said he was "suprised" by the fee.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.