Reuters hedge fund and private equity summit

[Joelle]

Reuters hedge fund and private equity summit
      

Hedge funds are ready to set records this year, but their achievements are not the stuff managers or investors want to brag about.

"The bubble has popped and there is going to be a lot of pain," said Bradley Alford, the founder of hedge fund advisory firm Alpha Capital Management. "There will be a massive reassessment of where money should go."

Many investors expect the $1.8 trillion industry's estimated 10,000 funds to be winnowed down by a few thousand in a few years, and funds which oversaw nearly $4 billion dollars in assets have already closed their doors in the first quarter of 2008.

Amid the turbulence, top executives in Singapore, Hong Kong, London and New York are taking part in the Reuters Hedge Funds and Private Equity Summit this week.
         

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