Here's what mattered in hedge funds and asset and wealth management in 2022

Is the "smart" money going to be smarter in 2023? Let me know your thoughts at EMAIL. As we settle our accounts for the year, this is our top reporting on the buy-side. Sign up if this was sent to you. Get Insider's App here. Tiger Global Management's aggressive wager on tech startups failed this year. ExodusPoint Capital Management raised $8.5 billion in a bold debut in 2018. The hedge fund, which was founded in 2018 by two former Millennium executives has not lived up to its lofty expectations four years later. Learn why ExodusPoint is still the most talked about hedge fund industry. The "thundering herd" bellows. Client associates at Merrill Lynch who assist financial advisors in their clients' investments feel underpaid and overworked. It's not so simple. Even the largest companies are now targets for activist investors. Private credit is a growing market. It's not surprising that BlackRock would like to buy a small market specialist. BlackRock's private lending business is rife with tensions. Who benefits from the war against "woke capitalism?" Federated Hermes and Bank of New York Mellon are two examples of money managers who have benefited from these political moves. Top talent is in high demand. Meet the money managers of the ultra-wealthy. Bet on the ranch. Beartooth Group, a private equity fund, has purchased distressed ranches across Colorado, Idaho and Montana. Here comes the sun. You would never have thought that the Blackstone Group was responsible for last summer's trendy sunscreen. Blackstone's consumer wager: More information. Do you have any tips or feedback? Send us feedback or tips via email at EMAIL. Edited in New York by Michelle Abrego (tweet @URL__), Hallam Bullock in London (tweet @URL__), Finance Newsletter 10 Things about Wall Street