Maverick Capital Management, the $11 billion investment firm run by Lee Ainslie, is looking to seed hedge fund managers, Bloomberg reports. The hedge fund has set up seeding fund Maverick Seed Partners and has committed $22 million to it.
The number of money managers looking to raise cash for hedge funds have increased, as banks started dissolving their proprietary trading desks to comply with U.S. legislation that restricts trading with their own money. Other firms putting money with new managers in exchange for a share of fees include Blackstone, Goldman Sachs and Shumway Capital Partners.
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