Hedge fund revival sees US billionaires target London


London’s fund industry is bouncing back, and U.S. billionaires Steven Cohen and Ken Griffin are grabbing a piece of the action.

Bloomberg News reports that Griffin’s Citadel and Millennium Management, a hedge fund run by Israel Englander, have bulked up in London, where asset growth is outpacing the U.S. Point72 Asset Management, the family office that oversees Cohen’s wealth, is plotting a return to Europe’s financial hub by year-end, said a person with knowledge of the matter.

London lost ground with hedge fund investors earlier this decade as taxes rose on the highest earners and Europe’s debt crisis roiled markets. Now managers say trading opportunities are multiplying and dealmaking is picking up. Europe attracted $12.5bn in the first half of the year, while funds focused on the U.S. had net outflows, according to a report from eVestment, a firm that tracks hedge funds.

To access the complete Bloomberg News article hit the link below:

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