Zoe Cruz Is Happy Investors Didn't Throw Money At Her Hedge Fund
Sometimes name recognition alone isn't enough to attract lots of money. Zoe Cruz's start-up hedge fund, Voras Capital Management, which bets on broad economic trends, began trading in mid-2010 but has struggled to get much past the $220 million mark, say people familiar with the firm. Another challenge for Ms. Cruz, these people say, is that in the wake the financial crisis investors have been favoring funds run by traders with recent track records over those run by executives. Still, Ms. Cruz, who is actively trading in her hedge fund, is being closely followed by investors and could raise more money, these people say. Ms. Cruz says she sees a big opportunity. "People aren't going to give me $3 billion just because I'm Zoe Cruz," she says. "That's a positive thing." [WSJ via Heidi Moore, earlier]
