Hedge fund assets grew last year to $1.96 trillion, levels not seen since the pre-crisis days of 2007, according to Hennessee Group LLC, an adviser to hedge fund investors.

The jump in assets by $751 billion to $1.96 trillion was a 62% increase for the year, the Hennessee Group said. To avoid double counting, fund-of-fund assets are not included in the asset growth analysis.

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