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From Kirsten Bischoff, Opalesque New York:
When assets flowed back into the hedge fund industry they were directed at the largest hedge funds. While hedge fund investors still value the added stability of these large firms, they are also hoping to participate in the expectations of outperformance by new managers, and smaller, more nimble funds that have fewer than $1bn in assets. It has been well publicized that Goldman Sachs is launching an emerging managers investment vehicle, and several pension funds and other institutional investors have started to focus on mid-sized managers for allocations.
Likewise, $6bn investment advisor, New York-based Tiedemann Wealth Management, which invests over $1bn in hedge funds on behalf of its clients (and that just launched a new fund that will invest in managers of all sizes and strategies), sees many opportunities to invest in smaller and mid-sized managers, especially those that survived the financial crisis and bring experience not only in fund management, but in business management as well.
Hedge funds make up anywhere from 20% to higher than 40% of the firm’s exposure. CIO Michael Tiedemann recently explained to Opalesque that overall, clients tend to be agnostic to manager size regarding the firm’s hedge fund investments, and instead are focused on the consistency of the results being delivered to them and the risks that are required to ...................... To view our full article Click here
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