(Bloomberg) It’s a buyer’s market in hedge funds and wealthy families are beginning to feel the love. Turmoil in the fund industry is giving family offices a resurgence in power. As traditional institutional backers reconsider their hedge fund investments amid sluggish returns, those who manage money for the rich are gaining flexibility on fees, customized investments and more access to high-profile portfolio managers.
“Family offices are back to their historic levels of interest from the hedge fund manager public,” said Alessandra Tocco, global head of capital introduction for JPMorgan Chase & Co.’s prime brokerage division.
