Multi-strategy SMAs let institutional allocators borrow at Fed funds plus 20bps
Will England · Will England, Derek Drummond, and Tony Caruso – Disintermediating Pod Shops (EP.501) · May 11, 2026 · at 13:30
Will England, CEO of Walleye Capital, explains the financing efficiency unlocked when major asset owners pool hedge fund balance sheets.
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“The real unlock when you think of an overall plan like UTIMCO or SWIB, you're implicitly borrowing money at Fed funds plus like 20 basis points.”
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