Rich people have trillions of dollars they want to give to hedge funds

Goldman Sachs says that trillions of private wealth assets are eager to invest in hedge funds. Hedge funds long favored pensions and endowments over private wealth. With institutions tied up in illiquid private funds, the wealthy could be hedge funds' new fundraising focus. The $5 trillion hedge fund industry is backed by some of the biggest pools of money in the world — pensions, endowments, and sovereign wealth funds. But those big-name institutions are facing a cash crunch thanks to capital tie ...