Wachovia Quietly Doubles Number Of Hedge Funds

Mar 3 2006 | 12:00am ET

Wachovia Alternative Strategies is following the lead of many large financial firms and expanding its hedge fund offerings at a dizzying pace. In recent months, the firm, which changed its name in December from Evergreen Alternative Strategies to Wachovia Alternative Strategies, has doubled the number of its hedge fund offerings, which now stand at 27.

According to Dan Flaherty, a spokesman for Wachovia, the firm currently has $1.2 billion in assets under management in its alternatives business. He declined to provide specifics about the new offerings.

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