A former general partner and CEO of Philanthropy Capital Management, LLC, Peter Black has an MBA in accounting and finance from Fordham Gabelli School of Business. For more than 15 years, Peter Black has garnered experience in managing hedge fund portfolios.
Hedge funds are investment partnerships in which partners pool funds to invest in various sectors. Hedge funds are different from other mutual investment funds because they can invest more aggressively and have a broader range of financial products. Hedge funds usually consist of the fund manager (sometimes called the general manager) and the investors, also known as the limited partners. Together, these partners bring out funds for investment.
A.W. Jones launched the first hedge fund in 1949. Mr. Jones had raised $100,00 earlier that year. With this money, he tried to reduce the risk of holding long-term stock positions by speculating declines in other stocks. In 1952, Mr. Jones converted his investment platform from a general partnership to a limited partnership. Also, he added a 20 percent compensation fee for the managing partner. Successfully orchestrating this investment vehicle earned A.W. Jones the title, father of the hedge fund.
Hedge funds are investment partnerships in which partners pool funds to invest in various sectors. Hedge funds are different from other mutual investment funds because they can invest more aggressively and have a broader range of financial products. Hedge funds usually consist of the fund manager (sometimes called the general manager) and the investors, also known as the limited partners. Together, these partners bring out funds for investment.
A.W. Jones launched the first hedge fund in 1949. Mr. Jones had raised $100,00 earlier that year. With this money, he tried to reduce the risk of holding long-term stock positions by speculating declines in other stocks. In 1952, Mr. Jones converted his investment platform from a general partnership to a limited partnership. Also, he added a 20 percent compensation fee for the managing partner. Successfully orchestrating this investment vehicle earned A.W. Jones the title, father of the hedge fund.
