Hedge funds are ‘dead as a doornail’ for the ultra-rich, says Tiger 21

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

Adam Jeffery | CNBC

Hedge funds are “dead” as an investment class for the very rich, said Michael Sonnenfeld, founder and president of Tiger 21, a network of ultra-high-net-worth investors and entrepreneurs.

Tiger 21 members’ allocation to hedge funds has fallen from 12% to 2% over the past 16 years, according to network data.

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