Sandra Manzke, founder of Tremont and hedge fund industry luminary, is starting a new fund of hedge ...
Sandra Manzke, founder of Tremont and hedge fund industry luminary, is starting a new fund of hedge fund company but this time with a twist: it will try to overcome the resource limitations of a small house by sharing all of its manager research with an exclusive club of other fund of hedge fund managers.
Manzke is in the process of creating web-based standardised forms for manager reports, due diligence, performance and so on so that every member of the club will contribute useable information to the collective.
"There are a number of good people I know who run funds of funds," said Manzke. "I want to create a consultative group so I run my own money, they run theirs but I want to build a web-based access point for shared information between us. But that information will only be shared with a select few. After all, we don't want the whole world to know about these managers."
Her reasoning is that if someone whose processes and skills she trusts goes through the whole process of meeting a manager, doing due diligence, looking at the financials and so on, why should she have to go through the whole process again for the same person?
At the moment Manzke has an IT consultant creating the technology for a shared database. There will be some degree of compromise as the other managers will have to make sure their processes fit in with Manzke's designer templates, reporting schemes and so on. She aims to have no more than 12 people in the group, but to begin with only half that number.
Go to page 28 for a profile of Sandra Manzke.
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