Cambridge Associates turns to hedge funds to capture rising demand from wealthy investors

Cambridge Associates is increasing its emphasis on hedge funds as it seeks to win business from wealthy individuals and family offices in Asia, according to a report by CityWire. The investment consultancy has seen a sharp rise in demand for alternative investments as private clients reassess their portfolios and look for strategies that can reduce reliance on traditional equities and bonds. The shift follows a strong run in public markets, with clients seeking greater diversification.

Ming Yan, managing director at Cambridge Associates, said hedge funds have become an increasingly important topic in discussions with both existing clients and prospective families. Yan noted that the conversations are particularly common with investors who have limited previous exposure to the asset class.

The firm's private client business has expanded rapidly over the past two years, with the number of clients rising by about 60%. Wealthy individuals account for roughly half of Cambridge Associates' Asia business so far this year, although the firm does not disclose assets for its regional private client operation.

Across the group, Cambridge Associates had $667bn in assets under management and advice at the end of 2025, including $102bn invested in hedge funds. The consultancy says its long history of working with hedge funds is an important selling point as wealthy investors increase allocations to alternatives. It has relationships with more than 1,000 hedge fund managers, which Yan describes as a broad selection pool from which to construct portfolios.