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Hedge fund manager too busy to retrieve his $160K Maserati

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Hedge fund manager too busy to retrieve his $160K Maserati

por Pata-Hari » 27/8/2007 22:46

Hedge fund manager too busy to retrieve his $160K Maserati from the pound; even at £25 a day in fines, it's "not that expensive relative to the cost of parking in central London"

Too much money, too little time: We just came across this and thought it was hilarious. Bertrand Des Palliers, who runs recently opened $340 million hedge fund SPQR Capital, is a busy, busy guy. Too busy and focused, it appears, to retrieve his impounded $160,000 Maserati Cambiocorsa when it was towed away from a square in Knightsbridge in May. He owes about $10K in fines against the car, and officials were said to be completely baffled as to why Des Palliers didn't come forward to reclaim his expensive toy. He didn't even really focus on it until the Evening Standard newspaper notified him that his car was about to be sold:


....he ignored all attempts by TfL to contact him and let the fines increase at the rate of £25 a day until the Evening Standard newspaper tracked him down and warned him the car was about to be auctioned.

Mr Des Pallieres, 39, who owns and runs the £170 million SPQR fund, left Deutsche Bank with two colleagues in April to set up his own firm, specialising in complex investments in the debt markets.

He said: "The truth is I was so busy I did not have time to deal with sorting the congestion charges, paying my road tax and getting my car out of the pound.

"I have been setting up a new business and, as you can imagine, it requires all my focus. I have been running around the world raising money for my fund and setting it up. When I left my previous job at Deutsche Bank, I lost my PA. She had always organised all of these domestic things for me. For a while I did not have a PAbut now I have one, so this will get sorted out.

"I can be too focused, which has its pluses and minuses. I am quite obsessive about work. I think here is a clear example where I have perhaps focused on work to the exclusion of everything else."

He added: "Some of my colleagues have teased me about the car. I can understand how people might find this quite strange but it was always my intention to pick it up. I only ever use the car in the summer and this summer I have hardly been in London.

"In my defence, I would say that parking in the TfL car pound is not that expensive relative to the cost of parking in central London."

We checked out Des Pallieres on Bloomberg, and when he left Deutsche Bank in April, he was listed as their global co-head: structured credit. Prior to that, he was with JP Morgan where he was global co-head: dredit derivatives.

We also checked to see if SPQR has a web site. They do, but completing it must be on Des Palliers' "To-Do" list along with his Maserati retrieval. It's listed as "Under Construction".

Hedge fund tycoon abandoned his £80,000 supercar in a pound - because he was 'too busy' to collect it - This Is London / Evening Standard

http://www.thisislondon.co.uk/news/arti ... d%20his%20£80,000%20supercar%20in%20a%20pound%20-%20because%20he%20was%20'too%20busy'%20to%20collect%20it/article.do

Here's Bloomberg's take on the Evening Standard Story:
http://www.bloomberg.com/apps/news?pid= ... 4&refer=uk



Fonte:

http://wallstfolly.typepad.com/wallstfo ... .html#more
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