The investment management industry proved resilient in the 10 years since the terrorist attacks of Sept. 11, 2001, even though things can never be the same.

Bridgewater Associates LP, which narrowed its investment lineup four years ago to just an alpha-generating hedge fund and a risk-parity beta strategy, is poised to launch a more liquid version of the hedge fund.

Alternative investment managers, like Citadel and Fortress, are sifting through the wreckage of the money management industry, seeking once-brilliant diamonds roughed up by last year's market meltdown — good credit portfolio managers and/or firms.

For chief executives of investment firms, few relationships are as important to their personal success and that of their companies as those forged with independent advisers — the powers behind the thrones.