Cities with the most hedge funds

[JMKeynes]

It’s amazing that Greenwich is number four in the world.

https://chacoryour.com/where-are-mos...s-located.html

Where Are Most Hedge Funds Located?

21/1/2022

Where are most hedge funds located?

– New York City, NY. The number one city for hedge fund jobs will come as no surprise.
– London, England.
– Chicago, IL.
– Greenwich, CT.
– Boston, MA.
– Geneva, Switzerland.
– Hong Kong, China.
– San Francisco, CA.

[SIGSEGV]

Originally Posted by JMKeynes

It’s amazing that Greenwich is number four in the world.

https://chacoryour.com/where-are-mos...s-located.html

Where Are Most Hedge Funds Located?

21/1/2022

Where are most hedge funds located?

– New York City, NY. The number one city for hedge fund jobs will come as no surprise.
– London, England.
– Chicago, IL.
– Greenwich, CT.
– Boston, MA.
– Geneva, Switzerland.
– Hong Kong, China.
– San Francisco, CA.

I mean, you should count Greenwich as NYC and it's not so surprising. Sort of surprised about Geneva over Zurich.

[The North One]

A quantity of hedge funds is pretty useless information. What matters when it comes to hedge funds is quality. State Street (Boston), Vanguard (PA), and BlackRock (New York) control pretty much everything in the US.

[proghousehead]

Originally Posted by The North One

A quantity of hedge funds is pretty useless information. What matters when it comes to hedge funds is quality. State Street (Boston), Vanguard (PA), and BlackRock (New York) control pretty much everything in the US.

Balyasny
Avenue
BlackStone
Millenium
Point72

Would all like to have a word. There are countless others as well. State Street is hardly a traditional hedge fund.

Signed. Someone in the industry.

[The North One]

Originally Posted by proghousehead

Balyasny
Avenue
BlackStone
Millenium
Point72

Would all like to have a word. There are countless others as well. State Street is hardly a traditional hedge fund.

Signed. Someone in the industry.

k

my point still stands.

[proghousehead]

Originally Posted by The North One

k

my point still stands.

Not really. State Street and Vanguard are not hedge funds.

[The North One]

Originally Posted by proghousehead

Not really. State Street and Vanguard are not hedge funds.

The point that the quality of the hedge fund matters a lot more than the number is definitely going over your head.

I don't care. But keep playing contrarian because this makes you feel important or something??

[Xing]

I thought this was about cities with the most funds for hedges. I’ll show myself out of this “ultra exclusive” discussion.

Btw, I think London may still make that list too.

[proghousehead]

Originally Posted by Xing

I thought this was about cities with the most funds for hedges. I’ll show myself out of this “ultra exclusive” discussion.

Btw, I think London may still make that list too.

Ultra exclusive? Or ignorance? Fine line eh? Nice contribution to the topic!

[Xing]

Originally Posted by proghousehead

Ultra exclusive? Or ignorance? Fine line eh? Nice contribution to the topic!

Anytime !

[Handro]

What conclusions should one draw from this list?

[suburbanite]

Originally Posted by Handro

What conclusions should one draw from this list?

Hedge funds tend to be located where very rich people congregate.

[Crawford]

Hedge funds are overwhelmingly in two geographies - Midtown east of Fifth Ave., especially on/around Park Ave. in the East 40's and 50's, and the coastal Greenwich-Stamford corridor in CT, especially around Greenwich and Stamford Metro North stations.

So, yeah, basically near where rich people live, especially those involved in finance. Upper East Side-adjacent, and the richest part of Fairfield County/Westchester County.

[suburbanite]

I find the hedge fund industry pretty boring from a city analysis perspective. They tend to employ comparatively few people, provide extremely minimal spinoff economic benefits, and probably aren't a great source of local tax revenue since they don't take up a lot of real estate.

A $10 bn hedge fund that has a great year and returns 25% (meaning the fund earns somewhere around $550 million under the traditional 2/20 fee structure) probably has an almost immaterial impact on the local economy compared to a traditional bricks and mortar company that generates $500 million in pre-tax profit and likely employees hundreds of employees to get there. The people invested in the fund are probably spread over the globe and are just as likely to spend their returns in the French Riviera as they are wherever the fund is actually located.

I think of them as more of a symptom of prosperity than a cause so to speak. Meaning that if you have a significant hedge fund presence the local economy is likely very strong (or you're a destination for the global elite), but if you plunked a handful of big hedge funds down in Toledo, they're probably not going to significantly rejuvenate the local economy the way a Boeing manufacturing plant or something like that would.

[iheartthed]

Originally Posted by suburbanite

I think of them as more of a symptom of prosperity than a cause so to speak. Meaning that if you have a significant hedge fund presence the local economy is likely very strong (or you're a destination for the global elite), but if you plunked a handful of big hedge funds down in Toledo, they're probably not going to significantly rejuvenate the local economy the way a Boeing manufacturing plant or something like that would.

Having a large concentration of financial institutions is probably also a criteria.

[JManc]

Agreed about London. The most immaculate and maintained hedges anywhere.

[mousquet]

Excuse me, but this feels like a Communist establishment thread.

No kidding, fierce Communism and unleashed Capitalism bring about the same consequences to me.

Decadence, decay, ugliness, ruin.

[Shawn]

State Street most definitely offers hedge fund services. Name me an American or British commercial banking company with a global footprint which doesn't.

That being said, State Street is not a major hedge fund player, and is well-known for mutual funds and other index vehicles. Boston is all about mutual fund management. Think Fidelity, Putnam, Wellington, Mass Mutual, etc.

The North One, you might be conflating State Street's previous management of BlackRock's U.S. exchange-traded funds, which included hedge funds. This stopped in 2021.