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| Lou Lebedin, global co-head of prime brokerage at JPMorgan. |
By Katrina Dean Allen
Illustrations by Michael Gillette
Izzy Englander. John Paulson. Lee Ainslie. It wasn't long ago that those A-list hedge fund managers had lines of potential investors outside their doors, begging to be let into their exclusive funds. But now these same luminaries are the star attractions at events—such as the recent "speed dating" soiree hosted by Bank of America Merrill Lynch—designed to match managers with potential investors. Other hedge fund stars selling alongside Paulson and Englander at the BAML gathering included Daniel Och and Fortress Investment Group's Michael Novogratz, who dazzled investors with his pitch—and the diamond-studded belt buckle he wore for the occasion.
A few years ago the presence of superstar hedge fund founders and portfolio managers at a so-called capital introductions event may have been a rarity. Now it's becoming increasingly common,...