Hedge Fund Assets top $2 trillion

Hedge funds reached a milestone in the first quarter, amassing over $2 trillion in capital for the first time ever, an industry tracker said Tuesday.

The global hedge fund industry now controls total assets worth $2.02 trillion, according to Hedge Fund Research. That’s up $102 billion from the first quarter of 2010 and is more than the industry had in the second quarter of 2008, when assets peaked at $1.93 trillion.