ShutterstockBased on conversations with industry insiders, Business Insider rounded up the hedge funds to watch in 2025.Firms include Walleye Capital, Lone Pine, Renaissance Technologies, and an OpenAI-connected launch.2024 was a strong year for the industry, though pressure is building on the industry's middle class.With trillions of dollars in assets and dozens of billionaires, the hedge fund industry is doing fine, even if there's been a renewed push from the industry's biggest backers to rein in costs.Funds performed well in 2024, returning more than 10% through November, according to industry tracker PivotalPath — even though the average firm won't match the returns of the S&P 500, which is on track to finish above 20% for the second year in a row.