Birds of a Feather: Do Hedge Fund Managers Flock Together?

The authors thank Marie-Hélène Broihanne, Christian Ehmann, Alexander Eisele, Cesare Fracassi, Juha Joenvaäärä, Andrew Karolyi, Olga Kolokolova, Alberto Manconi, Joel Peress, Veronika Pool, Alberto Rossi, David Schumacher, Anna Slavutskaya, Oliver Spalt, Denitsa Stefanova, and Michela Verardo as well as seminar participants at Lancaster University, the third Luxembourg Asset Management Summit, University of Manchester, the seventh Paris Hedge Fund Conference, University of Strasbourg, University of St. Gallen, and University of Zurich for comments. An earlier version of the paper circulated under the title “Joint Employment Histories of Hedge Fund Managers.”