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Family offices "inundated" by hedge fund pitches, but playing hard to get may be key, investors say

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Family investors at Absolute Return Symposium included a self-described hedge fund omnivore and an office invested in 90 different managers.

   
  Chernick, Cooper, Orum, Schatzman, moderator Lawrence Delevingne (L-R)
(Photo: Axel Dupeux)
Hedge funds looking to raise money from the below-the-radar world of family offices got a slew of advice from top investment officers in the field at the Absolute Return Symposium.

"I am mindful that I experience a Groucho effect--that those managers who are pursuing me I find less attractive than those I have to chase," said Dan Schatzman, director of hedge fund research for the New York City-based Wolfson Family Office. The single family office invests about $1 billion in hedge funds, mostly