Hedge, private-equity managers bruised

— -- Hedge and private-equity fund managers, once considered the smartest guys on the street, now are finding Wall Street to be particularly mean.

The harsh reception toward publicly traded pieces of investments controlled by hedge funds and private-equity funds shows how public investors are souring on the idea that the managers of the funds have something special that lets them beat the market, says Brendan Gilmartin, equity analyst at Thomson Squawk Box. "Smart money doesn't look so smart based on recent investments," he says.

Public investment vehicles of private investors that are now struggling include: