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Alternative Market Briefing

Review of hedge fund launches, closures, trends, regulatory and legal events - week 50

Monday, December 14, 2009

By Benedicte Gravrand, Opalesque London: A roundup of last week’s hedge fund launches, closures, index performance, trends, regulatory, legal and financial events pertaining to the alternative investments world.

Last week, we heard of fund launches from Blue Rice (credit); Tiburon (credit opps); Fortress (Japan real estate); Adapto Advisors (energy); Culross (illiquid FoHFs); Salida Capital (3 funds in Canada); and BlackRock (portfolio giving U.S. retail investors access hedge funds). HFRI reported that while YTD liquidations remained greater than launches (858 closures vs. 554 launches), 3Q-09 marked a turning point as launches finally surpassed liquidations (224 launches vs. 109 liquidations).

Ex-SAC, Pequot managers Foley and Farrell will open their own firm, Bronson Point Partners, next month; and Sassan Ghahramani launched a hedge fund intelligence and trading firm, SGX Advisors.

The Hennessee Hedge Fund Index was up 1.7% in November, 22.4% YTD (Hennessee commented on hedge funds underperforming as equity markets rallied sharply); The HFRI Fund Weighted Composite Index gained 1.75%, bringing YTD gains to 18.8% (......................

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