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It's pretty well known in finance that hedge funds can be among the most secretive types of investment firms.

Behind that, there's this idea that this secrecy and lack of transparency gives them an extra edge over their competitors.

But there's this one hedge fund manager who took a pretty unusual step within his industry. He listed his firm on the stock market.

So if you're a public company, obviously you report four times a year, you have to publish

securities filings, that's time-consuming and onerous, and you're subject to SEC regulation.

That's the FT's Wall Street editor, Sujit Endup.

He says that when a hedge fund manager named Daniel Auk decided to take his company public back in 2007. This was a surprising move.

And just that kind of scrutiny is not something many hedge fund founders want, who are often very secretive and already have a stable of

investors who are loyal to them. By taking his firm public in 2007, Dan Ock made a

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