The year 2015 was not kind to hedge funds. Assets under management in the nearly $3 trillion industry took a $95 billion hit in the third quarter of the year -- the worst decline since the 2008 financial crisis, according to tracking firm Hedge Fund Research (HFR). Fears over China's growth prospects as well as the European debt crisis spooked global markets and put a damper on a number of new hedge funds that were set to launch this year. "On the surface, it's really easy to start a fund," said Eric Wagner, partner and chairman of the corporate department...