Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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NY Hedge Fund Managers Flock to Florida

Jan 28, 2013
Jing Chen

Could Florida be the next hedge fund capital?

According to a New York Post article, New York-based hedge fund professionals are flocking to Florida to escape the state's high tax rates. While the federal tax rates are the same in both regions, there is no state income tax in Florida.

The article also said that demand for industry professionals to relocate to the Sunshine State is so high that officials in Palm Beach County have already launched an office just to answer questions.

Among firms that have already relocated includes hedge fund manager Edward Lampert's ESL Investments, which moved from Connecticut last year.

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