Friday, February 03, 2023

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Fortune: Westport is Hedge Fund Central, Home of a “Wall Street Monster”

Westport is portrayed as ground zero for hedge funds in the latest (March 31) issue of Fortune magazine.

It paints a word picture for readers this way: Across a quiet, snowy field, through the trees and over the fence, lurks a Wall Street monster. The locale is Westport, Conn., about a mile inland from Long Island Sound across I-95.

The beast within those stark walls is Pequot Capital, a superpowerful $7 billion hedge fund that along with a dozen or so other mega-hedge funds many sprinkled among towns nearby ֖ is rocking mainstream Wall Street to its core.

Here in Fairfield County, the richest county in the richest state in the richest country in the world, vast fortunes are being created, and rules of finance are being rewritten.

For Westporters who have never heard of Pequot Capital and dont know where it is, it’s in the Nyala Farm office complex off of Greens Farms Road and I-95. (It also has offices in New York City and Menlo Park, Calif.)

Employee-owned, Pequot Capital offers funds that focus on technology, health care services, and small-cap firms to institutional investors and wealthy individuals.

But don’t look in Fortune for much more about Pequot. After breathlessly introducing readers to Westport and Pequot Capital at the beginning of its story, Fortune makes no mention of either Pequot or Westport again—except in a sidebar story listing fund principals and their locales.

As they say in the newspaper biz, Westport makes good copy.

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