Ex-Soros's Bessent Raises $4.5 Billion for New Hedge Fund Firm
- Hedge fund's assets make it one of the biggest startups ever
- Key Square Group started this week with about 15 employees
Setting a Winning Hedge Fund Strategy for 2016
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Scott Bessent, who oversaw George Soros’s $30 billion fortune for the last four years, will be managing $4.5 billion by the end of the first quarter, one of the largest hedge fund startups ever.
Bessent, 53, began trading $2 billion from his former employer this week at Key Square Group, a macro fund that chases economic trends by trading stocks, bonds, currencies and commodities. The firm, which capped initial assets at $4.5 billion, raised most of the balance from fewer than 10 institutions and had to turn away some money, according to people with knowledge of the firm.