February 13, 2021

Palm

Big money ditches New York, moves family to Palm Beach

High-end investment managers are getting a legal separation from New York. Palm Beach is getting the kids.

When Covid-closed offices, restaurants and public venues are able to open for ‘’normal” business it will be clear that the centre of gravity of the hedge fund, private equity and family office world will have shifted to Florida. Specifically to Palm Beach (known locally as the ‘island’) and West Palm Beach. “The move by the industry had already started,” says one Palm Beach investor. “Covid and the confinement has just compressed five years into one.”

The accelerated departure from New York is not

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