Industry Analysis

Reflections on the decade from Europe’s oldest FoHF families


LCH and Haussmann found the key to longevity is going where others fear to tread

By Niki Natarajan

Rick Sopher
Funds of hedge funds have been under fire for as long as InvestHedge has been around, indeed probably before it launched in October 2001. Rightly or wrongly, in the earlier part of this decade the double layer of fees were the main bones of funds of funds contention. Right now, 10 years on, the entire business model is being called into question.

The loss of faith in funds of funds has happened for a number of reasons. The first is simple evolution. A decade ago, many investors wanted to invest