Top Hedge Fund Investors: Stories, Strategies, and Advice

CHAPTER 5

The Predictive Value of Performance

Frank Meyer, Founder and Former Chairman, Glenwood Capital Investments

 

 

 

Frank Meyer began investing in hedge funds in the early 1970s, giving him a perspective on hedge fund investing and the evolution of the industry few investors share. Among his many accomplishments, Meyer is best known for founding Glenwood Capital Investments, a fund of hedge funds, in 1988.

After receiving a BA and MBA from the University of Chicago, he began and ended his brief academic career as a statistics instructor in the Booth School of Business. Meyer then joined A.G. Becker & Company to redesign their pension performance measurement service, and while there, learned of an obscure and intriguing investment called a hedge fund. In 1973, he joined Grosvenor Partners, the fund of hedge funds started by Richard Elden (Chapter 4) in 1971. Meyer was a partner in the firm and co-manager of the funds until September 1986.

Meyer detoured into private equity as a general partner of a leveraged buyout firm, Knightsbridge Partners, but the crash of 1987 made him realize he preferred to invest in hedge funds.

Meyer started Glenwood Capital Investments, LLC in January 1988 and remained affiliated with the firm until resigning as chairman in January 2004. In the interim, the Man Group, plc, an investment advisor based in England, purchased Glenwood in October 2000 and ran it as a wholly owned subsidiary until 2009, when it was consolidated with other Man Group subsidiaries. ...