Illustration: Patrick Leger
The Big Take
Hedge Fund Titans Breed a $14 Billion Pack of Startup Cubs
The hedge-fund startups have a lot of investor cash, but no guarantee of replicating their parent firms’ success.
Once, it was Julian Robertson, the founder of Tiger Management, who got to play godfather to a generation of hedge fund stars.
Now, it’s Ken Griffin’s Citadel and Izzy Englander’s Millennium Management who are taking up that role — whether they want to or not.