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...