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Platforms in the Hedge Fund Business
Hedge fund platforms are getting bigger and bigger. They've gotten a lot of press in the financial times, Wall Street Journal's just name a couple. I do sort of think it's the beginnings of maybe the middle innings of the death throes of the niche manager. We used to talk about 10,000 hedge funds; while I've met a hell of a lot of hedge funds, I never quite thought 10,000 was a realistic number.