Hey Ray Dalio, there are MORE than 8,000 pilots!
Ray Dalio, famous for running Bridgewater, the world’s largest hedge fund, is famous for mocking the growth in the hedge fund industry:
There are about 8,000 planes in the air and 100 really good pilots.
Every time I hear that quote I think, “Wow, so many managers are out there trying to get paid big fees!”
Well, 8,000 is a LOW guesstimate of the planes in the air…
Turns out there are over 24,000 pilots going for the “2/20” payment scheme (~10,000 identify as hedge fund specific).
Here is a link to the recent compilation of the private fund statements from form PF and ADV data (h.t., Cipperman Compliance).
Here is the table on the # of funds in the private fund space–24,000+! Wow.
And who are the suckers buying all these things? Government and private pension plans.
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