The clouds of the financial crisis have parted over the PE and hedge funds industries, although risks remain. Here is a selection of the best stories from the Private Equity and Hedge Funds Summit.

* Risk? Not for us, say some investors

* Funds make slow return to leverage

* Debt mountain still looms for LBO debt

* Hedgies, private equity dance to investors’ tune

* SWFs muscling in on funds business

Other great reads from the past week:

AIG unit sale shows more buyers could hijack IPOs (Reuters)
“More buyers could hijack planned flotations at the last minute after Prudential’s surprise purchase of AIG’s Asian life insurance unit showed the benefits of such “dual track” disposals.” – Reuters

Facebook CEO in No Rush To ‘Friend’ Wall Street (WSJ)
“Most everyone in Silicon Valley and on Wall Street agrees: The eventual IPO of social-networking site Facebook could make its founder the world’s richest twenty-something.” – WSJ

At Last — The Full Story Of How Facebook Was Founded (Business Insider)
“The controversy surrounding Facebook began quickly.  A week after he launched the site in 2004, Mark was accused by three Harvard seniors of having stolen the idea from them.” – Business Insider

Revisiting That Hyped WSJ Hedge-Fund Story (Columbia Journalism Review)
“It turns out the story is messier than that, with a couple of errors that made the dinner in question seem more sinister than it apparently was.” – Columbia Journalism Review

At Blackstone, a Rebound and More Transparency (NYT)
“Is the Blackstone Group on the rebound after the excesses of the credit boom and bust?” – NYT

There were more than a few quizzical looks in the newsroom this week when General Growth Properties said it would again list its shares on the New York Stock Exchange. Wouldn’t bankruptcy preclude the stock from being on the Big Boad? Not only does being bankrupt not keep your stock from being traded, but from the reaction of investors, it won’t even make your stock a sell.

Ilaina Jonas reports General Growth is not alone as having its shares trade on the Big Board while operating under Chapter 11 bankruptcy protection. A representative of the exchange did not know how many of the approximately 2,425 companies trading on the New York Stock Exchange were in Chapter 11. But a handful, such as W.R. Grace, have continued to trade on the Big Board post-bankruptcy.

General Growth is a bit different, still. It was delisted after its April filing and has now returned. The company has a market capitalization of over $4 billion, making it the 15th-largest publicly traded REIT of nearly 130 REITs traded on the NYSE. About half of General Growth’s shares are owned by hedge fund manager William Ackman of Pershing Square Capital Management and by Chairman John Bucksbaum and his family or family’s trust. Management is still calling the shots, even from bankruptcy, since the pervasive view – though not officially the view of the court yet – is that the company was sent into the tank by the credit crisis and not anything fundamentally wrong with its business. There is even an equity committee taking part in the bankrtupcy proceedings.

Clearly the stain of Chapter 11 is not worrying investors. The stock, on its re-debut, is up nearly 3 percent in early afternoon trade.