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What investors look for in Macro Hedge Funds is often misplaced. We debunk these notions and provide framework for what to look for and ask in your next due diligence meeting. Hedge Funds are investments but not assets. Evaluating them requires a different approach than assessing Private Equity. Interestingly, combining Macro Hedge Funds and Private Equity can be extremely powerful. The utility of Macro strategies varies but the primary goal for all investors should be generating return, especially when others are not.