1/ OUT NOW @opmpod with @PeterLakeSounds CIO of Marlowe Partners on how his firm's concentrated strategy shapes their approach to capital raising. He is ex-Soros and legends like Myron Scholes sit on Marlowe's board, so he's met with many different types of allocators... 🧵👇

3/ -Why his whole firm is structured for longevity to match the investment strategy -How non-standard structures even if they are "better" for allocators actually create headaches -New share classes for individual investors -And their unique approach to using AI for research

“The Whole Thing Is a Con Job” – Trump’s Windmill Rant at EU Presser

JOBS AT START-UP HEDGE FUNDS: Prior to starting my own fund, I worked at 3 start-up funds. 1 was good but didn’t scale, 1 was bad and shut down, and 1 was amazing and made my career. I'd define a start-up fund as one with either less than 1-2yrs in business or less than 100m in aum (regardless of age). While sometimes risky or destined to fail, they can also be unusually exciting and lucrative. A 🧵: Most hedge funds fail or close eventually, regardless of whether or not they are start-ups. I think the goal of any analyst is to find a good fund to work for run by a talented, passionate, and ethical PM. If you can find one you believe in, I think you should generally join them regardless of their size. If you aren't working for one, you should try to find one ASAP.

HEDGE FUND GP ECONOMICS The most important factor for GP economics over time is performance. A GP should comp their team and build their firm towards maximizing investment performance, not maximizing their share. A HF is a “non-zero sum” game. Let’s play with #s. A 🧵: