(FINalternatives) The exclusive club of hedge fund managers with at least $1 billion in assets under management continues to expand despite well-publicized travails in the industry, according to new research from Preqin.
The so-called Billion Dollar Club has grown as new members join and total combined allocations to the hedge fund asset class rise, Preqin said in a statement. Membership in the group has seen a net increase of eight in the 12 months to June 2017 and now stands at 242, while capital invested in hedge funds by these institutions has grown by 6% over the past year to $805 billion.
