While more pension funds are rethinking their alternative investment allocations, higher valuations helped drive up growth in assets held by "alt" managers last year, according to Preqin's 2015 Global Alternatives Report.
The total value of alternative assets in 2014 hit $6.91 trillion, up from $6.22 trillion the previous year, Preqin said.
Hedge funds posted "underwhelming" returns, yet swelled to $3.02 trillion vs. $2.66 trillion at the end of 2013, thanks to investors willing to take on the risk in hopes of making a killing. Hedge funds saw the most growth compared to other alt assets last year, Preqin said.
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