StamfordAdvocate.com – Connecticut may not be the world’s capital of hedge funds, but it’s not far off — literally or figuratively.
The state has the third-most hedge funds managing more than $1 billion in assets, trailing only New York and London, according to a report by alternative assets data and research outfit Preqin.
If you add up all the assets managed by members of the so-called “Billion Dollar Club,” Connecticut leapfrogs London into second place.
The rankings are part of the “2014 Preqin Global Hedge Fund Report” and are previewed in the company’s May “Hedge Fund Spotlight” newsletter.
“New York, London and Connecticut are undoubtedly the centers of the billion-dollar club,” said Preqin, which has offices in London, New York, Singapore and San Francisco.