This is the first FN 40 Under 40 Rising Stars of Hedge Funds, Financial News’ editorial pick of the brightest up-and-coming men and women in the industry. The 40 listed here say they have learnt lessons from the financial crisis and many are applying them to new ventures.

Despite variable performance during the recent market turmoil, hedge fund assets are approaching record levels once more, and the next generation of talent is making its way through an altered post-crisis landscape.