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Top hedge funds post historic year

Stamford Advocate- Despite a chaotic financial services sector, a new ranking shows money continued to pour into hedge funds at a historic rate last year.

The top 100 firms managed a record $1.35 trillion in 2007, including about $148 billion controlled by 11 lower Fairfield County hedge funds, according to a list compiled by Institutional Investor’s Alpha magazine.

The $1.35 trillion held by the top 100 marked a 35 percent increase from the year before and the $148 billion managed locally was a 16.5 percent increase from the 2007 list.

Tops among local hedge funds, and the only lower Fairfield County firm in the top 10, was Westport-based Bridgewater Associates. Bridgewater regained its No. 2 ranking with $36 billion in assets.

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