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Singer’s $41 Billion Hedge Fund Is Moving Base to Florida (1)

Oct. 22, 2020, 11:40 AM

Florida is luring its biggest name yet in hedge funds: Paul Singer’s Elliott Management Corp.

The $41 billion firm plans to move its headquarters to West Palm Beach from Midtown Manhattan, according to people familiar with the matter, joining a growing list of funds that have relocated to the Sunshine State.

With no individual income taxes, estate taxes or capital gains taxes, Florida has become a hot destination for hedge funds in recent years. The Covid-19 pandemic has accelerated that shift away from New York, the initial epicenter of the U.S. outbreak.

Paul Singer
Photographer: Patrick T. Fallon/Bloomberg

Singer’s co-chief investment officer and expected ...

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