This Guy Got A $20 Million Mandate While You Were Tweeting About Donald Trump
Memo to Tepper, Dalio, Soros et al: social media is the place to be these days if you want to raise money for a hedge fund.
Get off Instagram and start proving you’re worth a damn.
Joshua Young started his hedge fund less than a year ago. Last month, he caught a break when a university endowment handed him $20 million, quintupling his assets under management….
Young, all of 32, had set up a profile on SumZero, a website that started out as a repository for buy-side research and has more recently morphed into a mashup of LinkedIn and Match.com where institutional investors can find up-and-coming fund managers and choose them based on the quality of their analysis. Using SumZero, Young bypassed an old-boy network that prizes relationships, credentials and word-of-mouth referrals.
Hedge Fund Manager Puts Profile on Social Media, Lures $20 Million [Bloomberg]
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