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Why a Quant Shop Spends Big Bucks on a Literary Institution

Executives at British asset manager Man Group explain why the firm, known for its quantitative prowess, chooses to sponsor the Man Booker Prize, which honors the best English-language novel in a given year — a selection process that is nothing if not discretionary.

      Illustration by Matt Chase.  On a warm July night, a mix of international literati, PR flacks, and financiers gathered in what was once the private library of J. Pierpont Morgan at a reception to honor American author Paul Beatty. Guests enjoyed champagne, beef sliders, oysters, and truffled risotto balls while taking

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