There were 86 launches of hedge funds with $50 million of assets or more, raising $31 billion in 2006. In 2005, there were 91 launches raising more than $34 billion.
Shingles
“Costs of starting up have increased, and now investors are more choosy and don’t need to bet on a start-up, so everyone is finding it harder to go and hang up a shingle,” says Martin Cornish, partner at law firm Katten Muchin Rosenman Cornish in London.
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