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Pine Grove's Credit Edge

The fund-of-funds firm has not only survived but thrived thanks to timely bets on the right credit managers.

By David Graubard Since the financial crisis of 2008, the funds-of-funds industry has shrunk significantly, with investors opting to save on fees and skip the middleman in favor of direct investing. This trend has put many funds-of-funds firms, particularly the smallest ones, out of business. That is not the case

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