Operational infrastructure at hedge funds comes under closer scrutiny

Behind the facade

The global financial crisis and the Bernie Madoff scandal have buried the stereotypical image of a start-up hedge fund as one guy in a back room. Even if that manager is particularly prestigious, investors remain much more cautious about where they put their money.

“There has been tremendous change over the past few years, and with the market collapsing and a significant amount of capital disappearing, the natural rules of supply and demand have really put the investor in the driver’s seat, wher