The renaissance of the hedge fund industry

``... with the Dodd-Frank Act enshrined in US law last year --effectively placing a lid on "speculative" proprietary trading by banks -- several traders have since decided to instigate their own trading operations with the help of hedge funds. Their clients are no longer banks but rather institutions or even private investors with deep pockets. This is providing a new lease of life for the industry, particularly as certain hedge-fund legends such as William Van Mueffling at Cantillon and Tim Barakett at Atticus have decided to call it a day.''