Mike DeAddio is the Chief Operating Officer of Paloma Partners, the multi-manager platform founded by Donald Sussman in 1981 — one of the original seeders of firms like D.E. Shaw, Elliott, Canyon, and Caxton.

Mike takes us through a technical career that spans across Bell Labs, JPMorgan, Citadel and, Silver Point before bringing that entire playbook to Paloma.

We dig into what it takes to build institutional-grade hedge fund infrastructure today versus a decade ago and how Paloma completed a full technology refresh. All while keeping the plane in the air.

From there, we get into the model that makes Paloma different: flexible operational infrastructure and tailored to each manager’s style and goals — minimizing operational burden so they can focus on alpha generation — and a commitment to their long-term success, whether that means growing within the platform or eventually going out on their own.

For anyone running or building operations at a hedge fund or multi-manager platform — this one’s a masterclass on the operational lift when trying to launch a hedge fund today.