The $3.2 trillion hedge fund industry, reeling from its worst quarter for withdrawals since the financial crisis, is bracing for more pain.
The New York Post reports that hedge funds, which watched in horror as investors yanked $15 billion from the funds in the first three months of the year, could see that figure climb to $500 billion by the end of the year, one pension investor said.
“We have all the leverage,” one investor said, echoing a familiar refrain at this year’s SkyBridge Alternative, or SALT, conference, here.
Hedge funds have been scrambling to raise capital as wild swings have hit some of the biggest and best-known firms.
Big pension funds and other investors are also starting to revolt against the high fees hedge funds charge — and some are even pulling their money.
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