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Breaking: Investors Like To Put Their Cash With People Who've Worked For Firms Known To Make Money

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This is wild.

Eric Mandelblatt expects to have raised at least $500 million when his Soroban Capital Partners LLC begins trading stocks next month, according to two people with direct knowledge of the New York-based hedge-fund firm. At least two other managers, Mark Carhart and Pierre-Henri Flamand, are slated to open in coming months with half a billion dollars or more each, said the people, who asked not to be named because the firms are private. Helping all three traders pull in at least 10 times more than most hedge-fund startups this year may be one line on their resumes: Goldman Sachs. “It’s an incredibly difficult environment,” said Emma Sugarman, head of the U.S. capital introductions group at BNP Paribas SA in New York. “There does, however, seem to be an appetite for people who have a certain pedigree.” [Bloomberg]

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