(Bloomberg) -- The hedge fund industry ended 2016 with $3.02 trillion in global assets under management, surpassing the $3 trillion mark for the first time as performance gains offset net withdrawals, according to data released by Hedge Fund Research Inc. on Friday. The industry, which saw about $70 billion in outflows last year, had about $2.9 trillion in assets in 2015.
To contact the reporter on this story: Melissa Karsh in New York at mkarsh@bloomberg.net. To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Josh Friedman
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