(New York Times) In the annals of the immensely wealthy, the hedge fund manager is a relatively new entry. It has been only about a decade since significant numbers of hedge fund managers, including Kenneth C. Griffin of Citadel, Paul Tudor Jones of Tudor Investment Corporation and Steven A. Cohen of Point72 Asset Management, began appearing on billionaire rankings…..But the bloom may be coming off the hedge fund rose. In the past couple of years, as overall returns have lagged broad indexes, investors have grown increasingly concerned about exorbitant management fees, excessive secrecy and illiquidity in the arrangements. The result: The number of hedge funds is declining, and so are the fees managers charge.

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