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Here Comes a New Wave of Billion-Dollar Hedge Funds

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Hedge fund investors aren’t giving up just yet.

At least six new hedge funds are on track to start with at least $1 billion this year, according to data compiled by Bloomberg, after eight firms started with a 10-figure sum last year. The industry hasn’t seen this many mega-startups since 2005, when 13 funds raised a combined $19 billion.