Bloomberg – It is a truth universally acknowledged that a hedge-fund wife whose fortune takes a dive will be looking for a wealthier husband. Tatiana Boncompagni, after all, says it’s so in her frothy novel “Hedge Fund Wives.”

Her Upper East Side women need to keep up appearances. Gone may be the days of baby-shower goody bags “stuffed with diamond earrings and four-figure day spa gift certificates,” but how will they live without private planes and chartreuse Birkin bags?

Guide to this rarefied world is Marcy Emerson, a down-to- earth Midwesterner who moves to New York when her husband becomes a hedge-fund manager. She begins attending parties and benefits with the other wives. Some are welcoming; others make the North Pole seem warm.

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Tags: baby shower, birkin bags, day spa, diamond earrings, down to earth, emerson, fortune, goody bags, hedge-fund-manager, marcy, north pole, novel, private planes, spa gift certificates, truth, upper east side

Seeking Alpha – For the last few months, the media has portrayed the hedge fund industry as in desperate need to hang on to as much capital as possible. Hedge fund limited partners have purportedly been lining up demanding breaks on fees and access to capital in the future — and getting them. The truth is a little different (or at least a little more nuanced) than this perception.

Based on conversations I’ve had with managers in the industry, there are two factors which appear to differentiate between those hedge funds who have agreed to big concessions on fees and liquidity with their investors and ones who haven’t.

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Tags: concessions, conversations, desperate need, hedge fund, investors, limited-partners, liquidity, nuanced, perception, seeking alpha, truth