By Tyler Durden
While hedge funds may not exist much longer amid a tidal wave of capital outflows from active into passive asset managers and years of chronic underperformance in a centrally-planned world, some are fighting tooth and nail to minimize every possible cost to preserve their weary clients; and nobody does more than Irene Perdomo, and her partner Leonardo Marroni, who run the London-based, $115 Million Devet Capital.
Devet Capital’s $115 million hedge fund operates from the spare room downstairs in a house in the leafy London suburb of Wimbledon.
While on the surface, the hedge fund could be your ordinary, run-off-the-mill startup asset manager, three things stand out in this profile report from the WSJ:
It is run out of a spare room in a house in the leafy London suburb of Wimbledon, and houses a trading floor, conference room and occasional bedroom for six former stray dogs.
Devet Capital operates on an annual budget of up to about £66,000 ($98,000)
The Uruguayan co-founder, Irene Pedromo, is a former model from Elite Model Agency
To be sure, the WSJ angle is how little one needs to run a $100+ million hedge fund, with Devet presented as an extreme example of “a hedge …read more