The past year (including what we forecast into the second quarter of 2025) saw 145 new hedge fund launches, with many of the larger ones due to allocators’ focus on “quality”. All of these launches are from founders who come from funds with more than $1 billion. This marks a big change for an industry once known for its scrappiness and reliance on the vision of its founders.
2024 may turn out to be an important turning point for hedge funds.
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