Born in South Carolina, Bessent graduated with honors from Yale College in 1984 (with degrees in Political Science and Economics) and began his career with Brown Brothers Harriman in New York. He joined Soros Fund Management LLC in 1990. He founded Bessent Capital in July, 2000. The firm currently has 20 employees and $1 billion of assets in two hedge fund strategies.

He is considered to be one of the most influential and important fund managers in the world - some say he is in the top five, working as an openly gay man in one of the most conservative industries. He is #25 on the gfn.com (Gay Financial Network) 1999 list of the 25 most influential out gay and lesbian executives in corporate America.

He uses his influence and corporate wherewithal as a board member of God's Love We Deliver, an AIDS service organization, and was honorary chairman of the Empire State Pride Agenda's fall dinner featuring Bill Clinton.

Currently, he is business executive and hedge-fund investor, for the Bessent Capital; he is responsible for the group's investment strategy in European currencies, bonds and equities and resides in Manhattan and London. His outside activities include the International Council, Prince of Wale's Foundation and the Board of Directors, George Marshall Foundation.