(Forbes) In contrast to the early 2000s when high net worth individuals made up much of the hedge fund business, today the funds are attracting money from institutional investors looking for some yield in a low-rate environment, said Eamon McCooey, head of prime services at Wells Fargo Securities. “We’re more in pensions and endowments coming into hedge funds, looking for enhanced yield,” he said. Alternate investment funds now have about $3 trillion in assets under management. “The gestation period for them to make an investment is often much longer, but the money is stickier once they make the decision.”

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