Richmond Fed Publication Explores the Hedge Fund Industry

RICHMOND, VA -- (MARKET WIRE) -- 05/30/08 -- The role of private equity firms -- organizations that buy companies in order to reshape them and sell them later at a profit -- is often misunderstood. Some buyouts and firms make splashy headlines, and credit market turmoil is prompting questions about whether this is the end of an era for private equity. The cover story of the latest Region Focus de-mystifies this industry and explores its importance in keeping the economy competitive.

Also in this issue:

-- Virtual Economics: How economists are using virtual worlds like Second Life as fertile ground for the study of economic policy, institutions and crisis management. -- Baseball Revenue Sharing: Why economists say Major League Baseball executives shouldn't expect current revenue-sharing arrangements to increase on-field competition among teams. -- Highly-Skilled Labor: With large numbers of highly-skilled workers preparing to retire, South Carolina companies are developing ways to cope with the shortage of trained workers.

Region Focus, a quarterly business magazine published by the Federal Reserve Bank of Richmond, covers the economy and business activities of the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia.

For free copies of Region Focus, contact the Bank's Public Affairs Department at 804.697.8109. The articles are available online at http://www.richmondfed.org/publications.

Contact: Stephen Slivinski Senior Editor, Region Focus Federal Reserve Bank of Richmond Phone: 804.697.8149 Stephen.Slivinski@rich.frb.org

2008-05-30 16:36:48 0374017 MARKETWIRE