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Hedge Funds Retreat from Private Investing

Firms that traditionally have pumped big bucks into pre-IPO companies are finding little to invest in this year.

        The aggressive retreat of a once red-hot investment strategy continues, at least if hedge funds are anything to go by. Venture capital, which in 2015 enjoyed its second-biggest year of the past 20, contracted sharply in the fourth quarter and has yet to bounce back, at least with hedge fund firms

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