The investment strategies of private equity firms differ to those of hedge funds. Only assets in private funds following hedge fund strategies are counted. Pickens chaired the hedge fund BP Capital Management. They were purchased by a hedge fund manager. In 2006, Blackstone launched its long / short equity hedge fund business, Kailix Advisors. This may be the case for some hedge fund strategies. The loss is attributed to over-investment in hedge funds. He has frequently spoken out against high hedge fund fees. He is the son of hedge fund billionaire Ray Dalio. In 2001, Cramer retired from managing the hedge fund. The purchase was financed with a loan by Pacificor, a hedge fund from Santa Monica. Assets held in hedge funds grew to roughly $1.8 trillion. Eric Jackson, the founder of hedge fund Ironfire Capital, called Yahoo! Jonathan Sorrell is president of the hedge fund Man Group. A study was done on two major databases containing hedge fund data.