DealZone

The clouds of the financial crisis have parted over the PE and hedge funds industries, although risks remain. Here is a selection of the best stories from the Private Equity and Hedge Funds Summit.

* Risk? Not for us, say some investors

* Funds make slow return to leverage

* Debt mountain still looms for LBO debt

* Hedgies, private equity dance to investors’ tune

* SWFs muscling in on funds business

Other great reads from the past week:

AIG unit sale shows more buyers could hijack IPOs (Reuters)
“More buyers could hijack planned flotations at the last minute after Prudential’s surprise purchase of AIG’s Asian life insurance unit showed the benefits of such “dual track” disposals.” – Reuters

Facebook CEO in No Rush To ‘Friend’ Wall Street (WSJ)
“Most everyone in Silicon Valley and on Wall Street agrees: The eventual IPO of social-networking site Facebook could make its founder the world’s richest twenty-something.” – WSJ

At Last — The Full Story Of How Facebook Was Founded (Business Insider)
“The controversy surrounding Facebook began quickly.  A week after he launched the site in 2004, Mark was accused by three Harvard seniors of having stolen the idea from them.” – Business Insider

Revisiting That Hyped WSJ Hedge-Fund Story (Columbia Journalism Review)
“It turns out the story is messier than that, with a couple of errors that made the dinner in question seem more sinister than it apparently was.” – Columbia Journalism Review

At Blackstone, a Rebound and More Transparency (NYT)
“Is the Blackstone Group on the rebound after the excesses of the credit boom and bust?” – NYT