Many of the highest-­profile event-driven hedge funds have struggled to navigate the new investment environment. New York–based Arrow Capital Management has put them all to shame, returning close to 60 percent, net, in 2009. Mal Serure — co-­manager of the $425 million fund, along with Alexander von Fürstenberg, the son of fashion icon Diane von Fürstenberg — has been instrumental in Arrow Capital’s results, as well as in building the firm. Before joining Arrow the 39-year-old Serure, yet another Wharton School grad, spent more than 12 years in the private client group at Bear Stearns.

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