» Dealbreaker - Lehman's Hedge Fund Management Fund
Lehman Brothers aims to raise $3 billion to $5 billion for a fund to buy strategic minority stakes in hedge-fund managers, according to sources at the bank. The fund, which has been called Omega, plans to invest in up to 12 hedge-fund managers.
Isn’t that like applying the VC model to hedge funds? I have for a long time thought about the potential for such a model (a lot of people may be great at picking stocks but not have the wherewithal or network to raise funds), and I think it has incredible potential.
Tech and finance are incredibly close in the way they work, through relentless innovation and entrepreneurship, and treating hedge funds as tech ventures would, in my view, create incredible amounts of value.