  | | | | Citigroup Alternative Investments (CAI) is an integrated alternative investments platform that manages a wide range of products across four asset classes including private equity, hedge funds, real estate, and structured products. CAI manages capital on behalf of Citigroup, as well as third-party institutional and high net worth investors. CAI's goal is to enable its 14 investment centers to retain the entrepreneurial qualities required to capitalize on evolving opportunities, while benefiting from the intellectual, operational and financial resources of Citigroup. | | |  | |  | |  |  | |  |  | | Hedge Funds and the Active Management Industry |  | | When hedge funds are viewed in the context of the broader active management industry, concerns regarding capacity constraints may be overstated. As separate investment vehicles for obtaining alpha and beta exposure continue to evolve, this article discusses whether hedge funds may represent a more appropriate governance structure for managing active investing than traditional long-only structures. |  | |  | | |