Hedge fund execs don't think about succession

A recent survey has found that most hedge funds have done little in the area of succession planning. In fact, less than 30 percent of partners are prepared to deal with the death of a managing partner. Only slightly more than half of the respondents even knew what person or entity will obtain voting rights in the event of an owner's death. Most surveys, including this one by accountants Rothstein Kass, serve a marketing purpose. But this is an interesting result. Overall, about 75 percent say they have no formal succession plans. Hedge fund execs tend to be a confident bunch. The one thing they are not counting on are their own death. These guys are immortal. Right? But I would bet the more established ones have thought this through.

For more:
- here's a FINalternatives article

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