|Born||1965 (age 47–48)|
New York City
|Education||A.B. in applied mathematics Harvard College, 1987
Master's degree in Environmental Management Yale School of Forestry and Environmental Studies, 2004
|Occupation||Founder, Chairman, and CEO of Fletcher Asset Management|
|Employer||Bear Stearns (1987–??)
Kidder Peabody (19??–91)
Fletcher Asset Management (1991–present)
|Known for||Hedge fund management, Kidder Peabody discrimination law suit, Dakota discrimination lawsuit, philanthropy|
|Spouse(s)||Ellen K. Pao (2007–present)|
|Relatives||Todd Fletcher and Geoffrey S. Fletcher (brothers)|
Alphonse "Buddy" Fletcher, Jr. (born 1965) is an American hedge fund manager. He began his career as a quantitative equity trader at Bear Stearns, and later worked at Kidder, Peabody & Co.. Fletcher, an African-American, sued Kidder Peabody for racial discrimination. Although his racial discrimination claims were dismissed, he eventually won an arbitration award of US$1.26 million. In 1991, he founded Fletcher Asset Management. Fletcher has also been involved in litigation centered on a dispute with the board of The Dakota building in Manhattan, New York. One of his funds ran into trouble in 2011 and was declared insolvent in 2012.
Personal life and education 
Fletcher was raised in Waterford, Connecticut. His father Alphonse Sr. was a technician at the Electric Boat Corporation in Groton, a company that makes submarines; his mother Bettye, a long-time teacher and later a social worker, a Dean, and school principal, received a Ph.D. in Education from Teachers College, Columbia University. Fletcher has two younger brothers. His brother Geoffrey S. Fletcher is the first African-American to win an Academy Award for screenwriting.
He attended Harvard College where he received an A.B. degree as an applied mathematics major in 1987. He was elected first marshall (ceremonial position) of the 1987 class. He earned a Master's degree in Environmental Management from the Yale School of Forestry and Environmental Studies in 2004.
In 2007, Fletcher married Ellen K. Pao, a partner at venture capital firm Kleiner Perkins Caufield & Byers and, along with Fletcher, a Crown Fellow at the Aspen Institute. Fletcher and Pao have one daughter.
Prior to his marriage to Pao, Fletcher lived with his partner Hobart V. Fowlkes Jr. for over 10 years.
Professional career 
After graduating from college in 1987, Fletcher began his career at Bear Stearns as a quantitative equity trader who capitalized on dividend-related arbitrage. He was recruited to Kidder Peabody as a trader in the equity trading group. After his tenure at Kidder Peabody, he founded Fletcher Asset Management. Fletcher Asset Management makes private investments in small-capitalization public companies.
Fletcher Asset Management 
During Fletcher Asset Management's first four years, it traded with heavy leverage. His general strategy was trading public instruments for his own account and on behalf of clients, but he also made longer-term equity investments. He used hedges with both types of investments. He has also been involved in PIPE deals. His firm's trading activity at one time occasionally accounted for 5% of the volume on the New York Stock Exchange. In 1994, Fletcher surrendered his broker-dealer registration and became a registered investment adviser, which made managing money more convenient.
In July 2011, FIA Leveraged Fund, an investment vehicle managed by Fletcher Asset Management, was unable to meet a redemption request totaling $144 million by three Louisiana pension fund investors. In April 2012, the Grand Court of the Cayman Islands ruled that the fund was insolvent and ordered that it be wound up (liquidated). In June 2012, Fletcher International Ltd., the Bermuda-based "master fund" for the Fletcher funds, filed for Chapter 11 bankruptcy in Manhattan.
Alphonse Fletcher vs. Kidder Peabody 
In 1991, after having been employed as an equity trader at Kidder Peabody, Fletcher filed a lawsuit in New York state court for employment discrimination based on race. The New York Court of Appeals ruled that Fletcher's claim must be arbitrated. In a NYSE arbitration, Fletcher was awarded $1.26 million, and in a subsequent arbitration, the racial discrimation claim was dismissed.
Dakota lawsuit 
In February 2011, Fletcher filed a lawsuit against the Board of Directors of The Dakota co-op building in Manhattan, where he had lived since 1992. Among other things, he alleged defamation and unlawful discrimination. In March 2010, Fletcher had signed a contract to purchase another apartment at The Dakota, intending to combine it with his current apartment. The Dakota board said it rejected Fletcher's application based on the financial materials he provided in his application.
In 1993, following the death of friend and advisor Reginald Lewis, Fletcher donated $1 million to the Reginald F. Lewis Memorial Endowment. The endowment had been created by the National Association for the Advancement of Colored People after Lewis instructed his wife to bequeath $2 million to the organization.
In 2004, to commemorate the 50th anniversary of Brown v. Board of Education, Fletcher created the Alphonse Fletcher Sr. Fellowship program to support individuals working to improve race relations.
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