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From Kirsten Bischoff, Opalesque New York:

2009 ended a record-breaking year of performance for hedge funds and the final 8 months of the year saw consistent, if small, net inflows bringing industry assets to $1.48tn (according to Eurekahedge). On infinitely firmer footing than they were a year ago managers are finally beginning the process of rebuilding their firms, but their focus is much different than it was during the accelerated growth of the past decade. This time around, when building everything from asset bases to employee bases, managers are strictly focused on quality over quantity.

Quality hires beget... "Hedge funds are hiring again. That's the good news," says hedge fund recruitment specialist Edwin Ostrand. "However, the most successful ones are engaging in highly focused searches for specific skills... They are using specialized recruitment firms to find them as they realize the very best talent, in most cases, may not even be looking to move to a new firm."

The fact that hedge funds are willing to go after currently employed talent while a large number of hedge fund professionals remain unemployed (and ostensibly less expensive), might be one of the indications that firms are more than willing to pay for what they consider top performers.

"Although there are a lot of talented people who are unfortunately unemployed at the moment, most who have stellar track......................

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