Some hedge funds are moving to Baker Street from Mayfair and St. James.
Well, so much for location, location, location.
While Mayfair and St. James continue to be the focal point for hedge funds in London, managers are increasingly looking outside that area to the greater West End area, driven by three factors: choice, flexibility and cost, according to a report by real estate manager Jones Lang LaSalle's London office.
The move of hedge funds Brevan Howard Asset Management LLP and D.E. Shaw & Co. (U.K.) Ltd. to Baker Street points to the willingness of the larger funds in particular to consider locations outside of Mayfair and St. James, according to the report. Larger, more institutionally focused funds will look to move to the outer reaches of the West End or to the City of London, especially the area west of St. Paul's Cathedral, according to the report. Drew Carter