Hedge Funds Raising a Bunch of Money to Buy and Sell Stuff To Each Other

 

Since EDGAR is down, we’re left with business news.  Two headlines next to each other:

Landmark Is Said to Seek $2.5 Billion for Secondary Fund

Franklin Resources buys prominent hedge fund firm K2

The fun part about the second article is in the first paragraph:  “Mutual fund giant Franklin Resources said on Wednesday it will buy a majority stake in K2 Associates, one of the biggest so-called funds of hedge funds . . .”  Translation:  A fund is buying a fund that invests in funds.

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