Investment banking Chasing the alternative

Investors have thrown money at hedge funds and private equity firms in recent years. Now investment banks are increasingly tailoring their strategies to maximize their take from so-called «alternative investors». The reason is simple. Banks simply can’t afford to lose out on the alternative dollar. Hedge funds account for more than 40% of brokerage revenues at Wall Street’s large securities firms and private equity accounts for about 25% of the investment banking fee pool, according to Dealogic...