Interesting report from HRF on hedge fund industry trends - the press release can be found below. First a small excerpt on multi-strat growth:
The past two years have seen two high-profile multi-strategy hedge funds shut down amid the cost, performance and talent retention pressures of managing a multi-portfolio manager model. Those that have pivoted their businesses into multimanager arrangements appear particularly at risk if performance falters.
With such pressures continuing, and pass-through fee scrutiny from allocators increasing, we expect some consolidation and more closures from firms unable to sustain the pace of fundraising and allocation. More platforms will also be open to selling minority stakes to private equity firms and other investors in the same way as Millennium, Verition...
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