Once golden, Robert Rubin's hedge fund proteges lose some luster

Wall Street

Learning to invest on Goldman Sachs' risk arbitrage desk, made famous by leader Robert Rubin, was once seen as a fast track to fortune. But the band of hedge fund protégés who mastered their trade under the former Wall Street star and U.S. Treasury Secretary have stumbled in recent years.

Hedge funds start to ditch 2 and 20

Hedge Fund

Three Asian hedge fund startups are eschewing the industry’s traditional fee model, as they vie for capital from investors that have gotten increasingly reluctant to put money with unproven managers.