Lest there be any doubt that the hedge fund business is becoming crowded, get this: Billionaire investor Sid Bass is expanding his hedge fund operation by going after the do-good crowd.
He quit a year later--ahead of Drexel's collapse triggered by prosecution of its junk-bond operation--to do boutique-finance deals that eventually led him to Houston billionaire Robert McNair's Cogen Technologies (which sold most of its plants to Enron just before that giant's collapse).