For those out there who are pursuing or already in the target role of PM or another role in the idea generation chain, how much capital would you need in order to “retire” from your current firm and becoming a full time PM for your own capital with no OPM?

Alternatively, how many partners would you need to have all the “seats” filled for a minimum viable fund/portfolio management team.

For example, if you were to pay yourself $50k/year and target fairly high net return after fees (paid to yourself). I’m not talking “aim for 100% return just don’t blow up” I’m talking reasonable returns given some expected returns for various fairly liquid asset classes. Not the one hit wonder lucky angel investor style.

I know risk tolerance plays a role, and that if you had $10M you could “just index passively” but I’m talking about what the minimum viable capital requirement would be to take this route?

We all know that PM seats are few, and that the corporate pyramid is very narrow, so rather than try to get one of those seats, make your own. Of course if you’re fairly successful you could capital raise for OPM etc but I’m just curious what the sense is from other candidates and charterholders.