April 21, 2006
Boston leads in hedge funds: SEC
New federal findings may have put to rest the debate on which state is leading in the management of hedge funds. According to the findings, Massachusetts financial firms help manage more than $150 billion in hedge funds and other private investments. According to Securities and Exchange Commission estimates, this figure is about 10 percent of the $1.5 trillion held in private funds nationwide. Boston.com reports:
''Boston has historically been one of the largest players in the hedge-fund industry, because the city has a tremendous pool of talented managers in the financial-services sector," said Richard A. Goldman, coleader of the hedge fund practice group at law firm Bingham McCutchen.
Read more: SEC filings show Boston is a leader in hedge funds
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