Necessity is said to be the mother of invention, and while the financial crisis may not have created the secondary market in hedge funds, where one investor sells a stake to another, it certainly fostered its development from a niche activity to a mainstream business.

The financial crisis left many investors stuck with illiquid hedge fund investments. Specialist brokers, some set up as recently as this year, believe they may have years of profitable work ahead of them unwinding positions. According to investors and consultants, at least five new brokers have entered the market to tap into the increased activity.