Michael Kelly is the Chief Investment Officer and Co-CEO of FrontPoint Partners, a multi-strategy hedge fund based in Greenwich, Connecticut. With a background at Tiger Management and Soros Fund Management, Kelly joined FrontPoint in 2001. Under his leadership, the firm has become known for its diversified strategies across equities, credit, macro, and event-driven investing. In this interview, Kelly discusses how the firm raised the bar post-2008 by enhancing risk management and transparency. He also highlights the increasing institutionalization of the hedge fund industry, which he believes will lead to the rise of major hedge fund complexes.