Had a question I've been thinking about after reading a bunch of threads that have recently come up about asset management firms and hedge funds. What's the difference between an asset management firm that purchases public equities vs a hedge fund? Where's the distinction between them?
Also, what's the difference between an asset management firm that only invests in private business and a private equity firm? Is it that the private equity firm would be dealing with the operations of the company they invest in, while the asset management firm wouldn't?