Scaramucci: Hedge Fund Assets To Triple In 10 Years

Oct 7 2010 | 12:32pm ET

The hedge fund industry hasn’t even regained all of the assets it lost during the financial crisis, but not to worry, one industry player says: In 10 years, that high-water mark will be so far underwater you won’t even be able to see it.

SkyBridge Capital’s Anthony Scaramucci told Bloomberg News that the hedge fund industry would triple in size over the next decade. Investors will be drawn back into the asset class by a weakened appetite for the stock-market roller-coaster.

“They need higher returns than what the fixed-income markets are giving them,” Scaramucci said at the Capital IQ Conference yesterday. “What's really going to move the needle for hedge fund allocations will be pensions.”

SkyBridge recently completed its acquisition of three Citigroup hedge fund units. The firm has some $7.4 billion in assets under management and advisory.

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