Hedge Fund Assets Surpass $4trn As Industry Continues To Grow

The hedge fund industry has experienced significant growth over the past 12 months and reached a remarkable $4 trillion in assets under management at the beginning of Q4 2023. Despite this growth, BlackRock has closed one of its most established and long-running hedge funds, Obsidian. Q3 2023 hedge fund letters, conferences and more BlackRock’s Obsidian Obsidian started life in mid-1996 as one of BlackRock’s oldest financial products and its first hedge funds. It has now been decided to discontinue the fund and return the majority of capital to the investors after the fund’s long-serving CIO, Stu Spodek, expressed his wish…