Hedge fund incubators see between 83-250 managers before they make a single investment, according to a survey by Deutsche Bank prime brokerage. This is far more fund visits per investment than any other type of investor.
Pension funds emerge as the next most demanding group seeing anywhere between 13-40 funds per investment.
Funds of funds see 30 or less before they find a manager they want to back. Family offices emerge as the quickest on the trigger, investing with one out of 14 managers they visit.