Family Offices Question Hedge Fund Relationships

Family offices and hedge funds are changing the terms of their long-standing affair.


It seemed a match made in heaven — hedge funds and family offices, naturally discreet partners with a strong mutual attraction. The former sought long-term commitment; the latter pined for uncorrelated returns.

But even the most outwardly perfect of couples can suffer a rough patch, and that’s what seems to have happened over the past several months as family offices — big and small, single and multiple, old and new — have questioned just how solid their relationship with hedge funds is after the way some managers...

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