I’ve spent 25 years connecting early-stage hedge fund managers with institutional capital.
I started on FX trading floors at State Street, then UBS, then Morgan Stanley. In 2014 I moved to Blenheim Capital, one of the world’s largest commodity funds. In 2017 I left Blenheim eight months pregnant and launched Vibe Advisors, an independent advisory boutique that helps emerging managers raise that first $50 to $200 million.
I work with the managers the big cap intro firms won’t touch. Too early, too small, too niche. Systematic, CTA, macro, FX. The strategies that need careful positioning and a long investor courtship.
I sit in an unusual position. I’m not a manager. I’m not an allocator. I’m the person in between. Managers tell me things they’d never say to an investor. Investors tell me things they’d never say to a manager’s face.
Most of what I know lives in my head, in meeting notes, in patterns I’ve spotted across hundreds of launches. This newsletter gets it out of my head and onto a page.
What you’ll find here:
Fundraising reality. Manager mistakes. Investor psychology. Operations that kill more funds than bad trades do. Fee structures, breakeven economics, capacity analysis, team building. The business side of running a hedge fund that nobody teaches you.
I write like I talk. Short. Direct. With real specifics from real situations.
Who this is for:
If you’re running an emerging fund and raising capital, this is written for you.
If you’re still in your seat at a bank or a pod shop, thinking about launching, read this before you hand in your notice. Half of what goes wrong happens before the fund even opens.
If you’re an allocator investing in this space, you’ll get the other side of the conversation. What managers are actually thinking, where they struggle, and what separates the ones worth backing from the ones who’ll waste your time.
This is what nobody tells you about raising your first $100 million.
Subscribe. It’s free. I publish fortnightly on a Thursday.
