Out of the shadows

February 01, 2012  

King Street has kept a famously low profile since its launch, but after its posting lackluster returns for two years and building up a large pile of cash, investors may want the firm’s founders to start talking.

Illustrations by Michael Kirkham

By Stephen Taub

While hedge fund managers are famous for their secrecy, the founders of King Street Capital Management have set a new standard for reticence.

The firm’s founders, Ottavio Francis Biondi Jr. and Brian Higgins, have rarely appeared in the press since they launched their global long-short credit and event-driven firm in New York in 1995. The firm, which managed $18.5 billion as of December 1, has never conducted an investor day, an increasingly common practice for hedge funds in which the founders meet with a big group of investors. And several King Street investors contacted for this story say they have never met both founders — only a few have met with even one of them. Though investors say King Street’s investor relations team — which they rate highly — has stocked the firm’s secure web site with detailed information, Biondi and Higgins prefer...


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