A $41 Billion Hedge Fund Will Move Its Headquarters From New York To Florida – With More Coming

The movement of hedge funds to Florida continues to accelerate, with three major players planning headquarters or offices here.

The biggest is Paul Singer’s $41 billion Elliott Management Corp., which is planning to move its headquarters from New York City to West Palm Beach, according to Bloomberg.

Elliott will increase hedge fund assets in Florida by over 50%. As of June 30, hedge funds based in Florida had $62 billion in assets, compared to NYC’s $1.3 trillion, according to Preqin.

In Miami, the $8 billion Balyasny Asset Management is also opening an office later this year, with capacity for 30 staff.

Bloomberg also reported that billionaire Ken Griffin’s $32 billion Citadel fund will open an office in Miami.

It isn’t clear if the Miami office will become the headquarters for the company, but Griffin recently purchased a property on Star Island for $37 million.

Both Balyasny and Citadel are currently based in Chiacgo.

 

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Anonymous
5 months ago

Happy to see more companies leaving NYC for Miami. Just don’t bring your Cuomo/deBlasio politics down here.

Anonymous
5 months ago

Haha those hedge fund guys are NY Republicans. Which means thst while they’re fiscally conservative they are much more socially liberal than even most democrats here. Hopefully, they’ll have a moderating effect on a FL republican party dominated by conspiracy theory believing religious bigots, racists, and Krazy Krazy Kubans.

Anonymous
5 months ago

The tolerant left comparing an entire ethnic group to the KKK. I wonder how liberal Cubans would feel with that insinuation. I’d respectfully suggest that you take a hard look at your own post and see who may be the bigot and racist.

Anonymous
5 months ago

Liberal Cubans would agree with me. I would know. I’m one of them. We constantly have to stay quiet with who we are going to vote for in order to avoid triggering our more “Konservative” fellow Cuban Americans. The shy Trump voter is a myth in Miami. The shy Biden voter on the other hand is a completely different story. I guarantee there will be someone reading this thinking Traitor! Communist!

Anonymous
5 months ago

Whether left, right or center one has the right to support anything they so choose. Rather than being triggered and launching epithets, we should respect one’s right to have and voice an opinion. The individual who made the original post only mentioned that he/she would not like to see the NY policies promulgated by governing democrats Cuomo/DeBlasio to be replicated here in Miami by new transplants. I would not presume you to be a traitor nor a communist based on political association just I would hope that you would not generalize all Floridian conservatives as “religious bigots and racists”. I advocate for dialogue on policies instead of shouting matches on which side can sling the most dirt at one another.

Anonymous
5 months ago

But you’re a communist and looney as well by calling other cubans kkk members. Ridiculous how you leftist promote your kkk conspiracy theories when yall are the ones with race quotas and looting.

Anonymous
5 months ago

I know what you are but what am I?

Anonymous
5 months ago

Right on!!

Anonymous
5 months ago

Democrats are the original organizers of the KKK, and that has not changed. Dems want to keep the poor down and always have.

Piruli
5 months ago

Well, I’m a liberal Cuban-American and I’m loud and proud. #BIDEN 2020, TRUMP TO JAIL 2021!

Anonymous
5 months ago

Me too. I am cuban and i vote for Biden. Enough with the ridiculous old Cubans -republicans supporters of trump. White republicans laugh with us when speaking Spanish people vote for white supremacy supporters.

Anonymous
5 months ago

“Liberal Cubans”? There is such a thing?

Anonymous
5 months ago

There are plenty of us. Haven’t you heard Miami-Dade is actually a democratic county? Many of us have to keep our opinions quiet because of all the snowflake conservatives who get triggered too easily. We also don’t want something happening to us like what happened to Emilio Milián or having our businesses and homes firebombed.

Anonymous
5 months ago

Liberal Cuban: it’s when someone from a communist country forgets what happens when leftists are elected.

Anonymous
5 months ago

I was wondering the same thing 🧐 I’ve always heard that Cubans have fled Cuba because of the communism. Please don’t bring the bs here

Anonymous
3 months ago

I only know of one. His name was Fidel.

Anonymous
5 months ago

You crack me up, or was that Hunter.?

Anonymous
5 months ago

The republican party isn’t filled with conspiracy theorist, you leftist are the ones who claim everything and everyone is racist and always on a witch hunt for it.

Anonymous
5 months ago

Is that what Q told you?

Anonymous
5 months ago

Hater

Anonymous
2 months ago

I like what you wrote

Jack
5 months ago

This story has nothing to do with politics so why bring it up here?

Anonymous
5 months ago

While the article is not explicitly political the subject matter does have a political element. I think it is fair to bring up how different cities and states approach policies. As a federal republic, competition amongst the states is a good and healthy thing and people and businesses are exercising their right to vote with their feet.

Anonymous
5 months ago

no there isn’t a political element to the story…..hedge fund guys just want to make money like everyone else (actually more!)….in case you haven’t noticed Miami-Dade is already quite liberal, but it ain’t New York…..

Anonymous
5 months ago

Well it does with regard to taxes, whereas Beijing Biden wants to implement the New York model at the Federal level, and then companies will move to Ireland, Switzerland, etc. Remember, thanks to Obummer, Burger King is technically Canadian. The tax rate was so bad before Trump, a company bought Tim Hortons to relocate to Canada. Let that sink in…

Outside of politics, it’s a good thing to see decentralization and creating a more diverse economy for Miami and South Florida as a whole.

Anonymous
5 months ago

Switzerland has wealth taxes by the way. Ireland is being forced by the EU to raise their corporate taxes. If Burger King really moved to Canada, then why can I still see their HQ every time I drive in front of the airport. They are only a Canadian company on paper. Democrats want to close those loopholes, republicans don’t.

Anonymous
5 months ago

“Beijing Biden”?! Trump is the one that has a secret Chinese bank account!!!!!

Piruli
5 months ago

BIDEN 2020, TRUMP TO JAIL 2021!
#LIBERALCUBAN

Anonymous
5 months ago

Trump 2020 and you are a communist regardless of your nationality.

Piruli
5 months ago

AND YOU DRANK THE KOOL-AID AND ARE A LOW IQ TRUMP VOTER!
I’ m a communist?! Please this is NOT the 1950s. Trump is the one who said, “PUTIN IS A GREAT LEADER”. For you’re information Putin was the head of the former Soviet Union’s communist KGB!

Anonymous
5 months ago

Trump 2020

Anonymous
5 months ago

BIDEN 2020

Anonymous
5 months ago

Any news on the innovation center?

Anonymous G
5 months ago

Nice good to hear.

Anonymous
5 months ago

Its a win for South FLA in general but its going to be based out of WPB, not downtown Miami. Sadly

Anonymous
3 months ago

Oh no, this will make my next holiday in Miami probably more expensive ? 😀 Not to mention property prices in a few years if this trend continues.