More than 1,000 hedge fund management firms participated in the 2006 Alpha Awards, representing a wide range of asset sizes and investment strategies. Just under one fourth of the firms manage more than $1 billion in assets, almost 40 percent fall between $100 million and $1 billion in assets, and 35 percent manage less than $100 million. The investment styles include everything from complex multistrategy funds to traditional long-short equity funds. About 80 percent of the firms we surveyed run single-manager hedge funds, nearly 12 percent manage funds of hedge funds and around 8 percent say they do both.
