Bloomberg – Newly started hedge funds received $12.4 billion in deposits from 2009 through 2011 from investors that believe many managers perform best during their early years, according to a Citigroup Inc. (C) report.
Funds within their first year of existence received the allocations from 78 global investors during the three years, according to a Citi Prime Finance report being released today. Citigroup surveyed 90 global investors with $368 billion in assets, including funds of funds, family offices, private banks and endowments, according to Sandy Kaul, head of U.S. operations for the New York-based company’s business advisory practice.
