Asia's richest families are disappointed with mediocre hedge fund returns and are balking at high fees, prompting them to shift to private equity. With redemptions already at a four-year high, Asia’s richest people comprise an investor group regional hedge funds can ill afford to lose. Family offices representing billionaires and multi-millionaires are a key source of capital in Asia, where global pension funds and university endowments haven’t made large inroads. Managers seeking money for new hedge funds are likely to be the hardest hit. Bloomberg's Klaus Wille has more on "Bloomberg Markets." (Source: Bloomberg)