May 18, 2024

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Hedge funds are 'dead as doornails' for the wealthy, says Tiger21

Hedge funds are 'dead as doornails' for the wealthy, says Tiger21

Michael Sonnenfeldt, founder, CEO and chairman of Tiger 21.

Adam Jeffrey | CNBC

Hedge funds are “dead” as an investment class for the wealthy, said Michael Sonnenfeld, founder and chairman of Tiger21, a network of high-net-worth investors and entrepreneurs.

Data from the network showed that Tiger 21 members' allocations to hedge funds fell to 2% from 12% over the past 16 years.