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Hedge funds have inadequate succession planning, study shows

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Established hedge funds have not done enough to plan for the dangers posed by the potential departure of senior partners, especially those due to death or disability, according to a study by accounting consultancy Rothstein Kass.

The findings show that “regardless of firm size, few participants have taken all the necessary steps to ensure a smooth transition in the event of a change in the senior management team,” wrote Howard Altman, a Rothstein Kass co-managing principal, in the report.

The study also found that about 30% of large firms did not even know if they were equipped to