Hedge fund pioneer Clint Carlson, founder of one of the first multi-strategy firms back in 1993, is aiming to stage a comeback, joining a wave of industry veterans seeking to revive once-prominent firms after years of asset declines, according to a repot by Bloomberg.
Carlson, whose Dallas-based Carlson Capital peaked at $10bn in assets in 2017, now manages about $300m and has refocused on equity relative value, his long-time specialty. The 67-year-old has streamlined strategies and incorporated more quantitative analysis as part of a renewed effort to rebuild performance and investor confidence.
Carlson’s revival mirrors similar moves by peers Frank Brosens (Taconic Capital Advisors), Donald Sussman (Paloma Partners) and Richard Perry (Olympus Peak Asset Management), who are each narrowing their investment focus or re-entering the market after years on the sidelines.
The challenge remains fundraising with hedge fund inflows having slowed dramatically since the pre-2008 boom years. While HFR reports a modest $37bn in net inflows so far this year, the increase represents less than 1% of the industry’s $4.7tn in total assets.
