The 25-year-old, Chicago, Illinois–based Mesirow Advanced Strategies became the tenth-largest fund of funds in the world in 2014 — the highest it has ranked in Alpha’s Funds of Funds 50. Despite this record placement, the firm’s $13.5 billion in assets is well below the pre-crisis peak of $16.8 billion. This is reflective of major industry outflows since the 2008 financial crisis. MAS, the fund-of-funds arm of Mesirow Financial, lost…
