by Paul Mampilly
The Sovereign Investor
When you’re hot on Wall Street, you are treated like a rock star. At a hedge fund investor conference in San Francisco, I was mobbed by people who wanted to speak to me. I was put up at the Fairmont Hotel, where suites go for $3,000 a night. At the fanciest restaurants in the capitals of the world — Geneva, Paris, Frankfurt — big-money investors would hang on my every word. Investors sent me $1,000 bottles of champagne, Tiffany vases, gold cufflinks and cases of wine as gifts.
Our hedge fund was up 20% for five years straight. Every big-money investor craves this kind of high-level, consistent performance. However, it’s rare. And when investors find it, they flood you with money.
Billions and billions of dollars. Our hedge fund grew from $1.5 billion in 2006 to over $5 billion by 2008. Our asset management company, which had about $5 billion under management in 2006, grew to over $25 billion in assets by 2008.