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Hedge funds and private equity to 'converge'

Date: Wednesday, October 4, 2006
Author: Aaron Siegel, InvestmentNews.com

Convergence between hedge funds and private equity has become the new status quo, according to "Crossing the line: the growing convergence of private equity and hedge funds," a report released today by ACG/Grant Thornton at a lunchtime roundtable.

Of the firms surveyed, 94% of hedge funds and 92% of private equity firms said they feel that distinctions between the two types of funds will eventually disappear.

According to the report, this will occur when hedge funds and private equity firms go beyond their traditional strategies and offer a hybrid of strategies to their clients.