||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...