Schonfeld Plans New Florida Hub as Hedge Funds Move South

Another hedge fund is putting down roots in tax-friendly Florida.

Schonfeld Strategic Advisors is opening an office in the Sunshine State that will serve as its second headquarters for about 100 staff, according to Ryan Tolkin, the firm’s chief investment officer.

“The initial build-out will be about 50 people over the next 12 months,” which will be about evenly split between New York relocations and new hires, he said in an interview. The firm picked South Florida because its education, housing, cost of living and quality of life are attractive to future talent, said Tolkin, who is also Schonfeld’s ...