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Rubenstein Says He’s Surprised Macro Hedge Funds ‘Got It Wrong’

  • Hedge funds having worst start to year since financial crisis
  • Firms will ’thrive again’ on performance, Carlyle co-CEO says
Bloomberg business news

David Rubenstein: Hedge Fund Industry Will Thrive Again

Carlyle Group LP’s David Rubenstein said it was unexpected that so many hedge funds made wrong macro bets, leading to the industry’s worst start to a year since 2009.

“It does seem surprising that so many macro people got it wrong,” Rubenstein said Wednesday in an interview with Bloomberg Television’s Erik Schatzker. "But many of them will probably do pretty well in the future. I suspect when returns come back the industry will thrive again."