(Hedgeweek) I read a prediction in one of those crystal-ball gazing missives that financial firms like to put out at the start of every year. It forecast that there will be continued blurring between hedge funds and private equity. I must admit I baulk at such an idea and find myself asking whether the convergence of liquid and illiquid alternatives is a desirable end and, if so, whose interests might best be served by an erosion of the distinction.
Is the convergence of liquid and illiquid alternatives really in the best interests of investors?
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