Key Takeaways
- • Graham Capital Management, a $20bn hedge fund, plans to open a new office in New York City, according to a Financial Times report.
- • The New York office will employ at least 30 staff, adding to the firm's existing workforce of 210 across Connecticut, Florida, and London.
- • Kenneth Tropin, Founder and Chair, said the firm is "looking at spaces literally as we speak."
- • The move runs counter to a post-pandemic trend in which more than 100 investment firms, including Elliott Management and Ark Investment, have relocated headquarters out of New York since 2020.
Summary
Graham Capital Management has announced plans to establish an office in New York City, a move that stands out against a broader post-pandemic pattern of financial firms leaving the city. According to a report by the Financial Times, the $20bn hedge fund is actively seeking premises for the new location.
In an interview with the Financial Times, Founder and Chair Kenneth Tropin said the firm is "looking at spaces literally as we speak." The New York office will initially be staffed by at least 30 people, complementing the firm's existing team of 210 employees, who are based in Connecticut, Florida, and London.
The expansion comes against a backdrop of significant relocation activity. Since 2020, more than 100 investment companies, including Elliott Management and Ark Investment, have moved their headquarters out of New York. Office occupancy rates in the city also remain well below pre-pandemic levels, according to the report.
The decision signals continued confidence in New York as a financial centre from a major systematic hedge fund manager, and may be of interest to allocators tracking manager footprints and talent location decisions in the sector.
In an interview with the Financial Times, Founder and Chair Kenneth Tropin said the firm is "looking at spaces literally as we speak." The New York office will initially be staffed by at least 30 people, complementing the firm's existing team of 210 employees, who are based in Connecticut, Florida, and London.
The expansion comes against a backdrop of significant relocation activity. Since 2020, more than 100 investment companies, including Elliott Management and Ark Investment, have moved their headquarters out of New York. Office occupancy rates in the city also remain well below pre-pandemic levels, according to the report.
The decision signals continued confidence in New York as a financial centre from a major systematic hedge fund manager, and may be of interest to allocators tracking manager footprints and talent location decisions in the sector.
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