May
02
Investors Join Buffett Slamming Hedge Fund Fees at Milken
By-
Chriss says industry faces a wave of closures, consolidation
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Loews’s James Tisch says there are too many hedge funds
Top investors took hedge fund fees to task at the Milken conference Monday, with participants saying managers return too little and face a wave of closures.
Chris Ailman, chief investment officer for the $187 billion California State Teachers’ Retirement System, told Bloomberg Television that the two-and-twenty fee model is “broken” and “off the table” for large institutional investors. Neil Chriss, founder of Hutchin Hill Capital, said investors will pull out of funds that aren’t giving them returns to justify the fees…
Investors Join Buffett Slamming Hedge Fund Fees at Milken
