AI Key For Third Wave of Hedge Fund Managers

(Pension & Investments) Veteran hedge fund seeder Jeffrey Tarrant is betting that a new generation of hedge fund managers proficient in machine learning processes will outperform and grow faster than those using traditional discretionary approaches.

“Artificial intelligence will fundamentally change investment management,” professed Mr. Tarrant, CEO and chief investment officer of Protege Partners LLC, which manages $800 million in emerging hedge fund seeding strategies. Mr. Tarrant launched MOV37 LLC in November 2016 to invest in small, emerging hedge funds utilizing autonomous learning investment strategies. He is CEO and CIO at the fledgling firm.

“This is the third wave of investment management. It’s populated by guys aged 25 to 38 who possess totally different skill sets” than those used by the first wave of discretionary managers and the second wave of quantitative managers, Mr. Tarrant said.

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