The hedge fund industry has grown 10 percent a year since the financial crisis, much of that from higher allocations by public and private pensions, according to an association representing hedge fund interests.

Pensions have well over $700 billion invested in hedge funds at the moment, representing about $1 of every $4 invested in these funds, the Alternative Investment Management Association said.

All told, hedge fund investments returned $1.5 trillion after fees to their investors over the past 10 years, the AIMA said.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.