December 22, 2006
Living It Up In London
Hedge funds are not all about making money. It’s also about showing money… lots of it. This is true especially if you are working out of London. Today, quite a few hedge fund firms are paying record rents for offices in London's Mayfair district, the world's most expensive business location. And they are definitely not complaining.
According to the managers, they need to impress their clients and also the price they pay is only a small part of their management fees. They feel that the going rate of $250 per square foot or $2750 per square meter is a small amount to pay as rent for this prime property. The area has now become London's hedge fund alley as money managers look for offices here.
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