British financier Ian Wace co-founded Marshall Wace Asset Management, a London-based hedge fund with Paul Marshall in 1997. He and Marshall, and another hedge fund manager, Arpad Busson, co-founded Absolute Return for Kids (ARK) in 2001, a children's non-profit. He does not have a college degree. Hence, Institutional Investor remarked "perhaps the only person without a college degree to ever qualify for the Rich List".