Small Hedge Funds Draw Investments as Bigger Rivals Stumble

Bloomberg – Richard Maraviglia spent January flying to Zurich, New York, Chicago and Miami to raise $250 million for his hedge fund.

Maraviglia, who now oversees about $610 million for Carlson Capital LP from London, raised the money because the almost 40 percent gain he posted last year made him a rarity: a hedge-fund manager who made money trading stocks. Hedge funds were down an average 5 percent in 2011 and those focused on equities fared even worse, losing 8.3 percent, Hedge Fund Research Inc. says.

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