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Hedge funds are ‘dead as a doornail’ for the ultra-rich, says Tiger 21

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Michael Sonnenfeldt, founder, CEO and Chairman, Tiger 21.

Adam Jeffery | CNBC

Hedge funds are “dead” as an investment class for the super rich, said Michael Sonnenfeld, founder and chairman of Tiger 21 — a network of ultra high net worth investors and entrepreneurs.

Tiger 21 members’ allocation to hedge funds dropped to 2% from 12% over the past 16 years, data from the network showed.

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