Its not easy to retire at 40. Seriously.
After nearly two decades as an institutional marketer, including a final stint as co-founder and head of sales, marketing and client service at hedge fund firm Andor Capital Management LLC in Greenwich, Conn., Donald A. Steinbrugge decided to step away from money management. He moved with his family to Richmond, Va., and planned to concentrate on charity work.
But after a couple of years in which it was kind of hard to find other 40-year-olds with time free during the day, Mr. Steinbrugge started to consult with a few hedge funds here and there. Then he started to raise assets for hedge fund manager Ramsey Asset Management LLC, McLean, Va., and realized that he really missed working.
Drawing on his years in institutional sales at traditional money management firms such as Merrill Lynch Investment Managers, New York, where he headed the team, Mr. Steinbrugge established Agecroft Partners LLC in Richmond. The third-party marketing firm will represent institutionally oriented hedge funds and concentrate on marketing their services to U.S. investors.
There is such a concentration of institutional investment with the largest hedge funds with the best-known brand names that many very good, smaller hedge fund managers are overlooked. Agecroft Partners will make sure that institutional investors get a chance to meet some of these companies, Mr. Steinbrugge said.
Mr. Steinbrugge named his firm after Agecroft Manor, a Tudor house built in Lancashire, England, in the late 15th century that was disassembled and rebuilt in his new hometown. I am a huge history buff and I liked the association Agecroft has with longevity and stability, he said.