Hedge funds turn institutionalised

The Financial Standard- The global hedge fund space is undergoing a period of radical change as large hedge funds become institutionalised, new research shows.

According to international strategy consultancy Celent, large hedge funds are undergoing institutionalisation as US pension plans and endowment funds demand players display vigorous operation capabilities to satisfy demanding due diligence requirements.

“Many hedge funds have grown to a size and scope that require managers to run their business more formally. As a result, a redesigned hedge fund organisation has emerged," said Celent.

“With substantial operation infrastructure capabilities and sound internal control and risk management practices in place, many large funds now have much in common with their asset management counterparts."

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