Senator Wyden’s Son Starts Hedge Fund

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http://www.businessweek.com/news/2011-02-24/senator-wyden-s-son-starts-hedge-fund-after-d-e-shaw-internship.html


Feb. 24 (Bloomberg) -- U.S. Senator Ron Wyden has a new hedge fund in his basement. That doesn’t mean he’s getting in on the ground floor.

His son, Adam, started a fund under the name ADW Capital Partners LP that he runs from the Wyden family’s residence in Washington, according to a private placement notice filed last month with the U.S. Securities and Exchange Commission. The fund is modeled after the investment partnership billionaire Warren Buffett ran in the 1950s and 1960s before acquiring Berkshire Hathaway Inc., Adam Wyden said in an interview.

The younger Wyden, whose father hasn’t invested in the fund, is among the first generation of post-crash money managers, many of whom must keep a lid on expenses in the face of a difficult money-raising environment. Before graduating last year from Columbia University’s business school in New York with a master’s degree, Adam Wyden worked as an intern at the $19 billion hedge fund founded by David Shaw, a Democratic fundraiser who backed Ron Wyden’s campaigns in 2004 and 2010.

The younger Wyden, whose father hasn’t invested in the fund, is among the first generation of post-crash money managers, many of whom must keep a lid on expenses in the face of a difficult money-raising environment. Before graduating last year from Columbia University’s business school in New York with a master’s degree, Adam Wyden worked as an intern at the $19 billion hedge fund founded by David Shaw, a Democratic fundraiser who backed Ron Wyden’s campaigns in 2004 and 2010.



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