This left-for-dead hedge fund business is finally bigger than it was before the 2008 crash

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• Hedge Fund Research said funds of hedge funds managed more than $800 billion at the end of 2025.
• That figure is the highest in history, topping the $799 billion figure from 2007.
• The financial crisis deeply hurt the fund-of-funds industry, and there are fewer operating now.

Funds that bet on hedge funds instead of stocks or bonds are finally in vogue again.

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