
Being corporate
Paying people
After we passed $100 million in assets under management in autumn
2003, spring 2004 quickly took us above $200 million before levelling
off just under $300 million. We were not doing anything new or better.
In the eyes of potential investors, however, we were no longer a risky
start-up fund, but instead a growth story with a stable, if boring, return
profile. Around this time, the hedge-fund industry was seeing massive
new investment in general and a big
part of our growth was undoubtedly
down to some of our investors
looking for places to put their new
capital. Not that we minded. In the
space of 18