Yup, you're right. Nowadays a "hedge" fund is simply some entity that manages money and dabbles in the dark arts to generate outlandish returns (or collapses in a spectacular fashion). I was just refuting the initial assertion that hedge funds make private investments, since most of the traditional "hedge funds" don't touch private markets, and work in public markets.

The parent is responding to the grandparent comment

> Generally hedge funds are private investments.

I take your point that HFs come in many flavors. And, "private investments" is ambiguous.

Though, in "general", the parent is right to say the claim (above) is not accurate. I think of HFs as "generally" playing with securitized, public assets, regardless of investment mandate.