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Alternative Market Briefing

Best managers who are still down from asset peaks present prime opportunities for re-seeding

Wednesday, April 21, 2010

From Kirsten Bischoff, Opalesque New York:

Seed funds have had their fair share of the spotlight over the past few weeks, as they advocate for allocating to a hedge fund industry that has fewer funds, more experienced managers spinning out of investment banks, and a marketplace full of opportunity as global economies continue to deal with fallout from the financial crisis. With the seed environment moving much more in the favor of investors than it has been in the past years, stakes in new launches can be very rewarding. However, seed firm Asset Alliance, head-quartered in New York, stresses that in this recovery climate the best risk/reward opportunities in seeding aren’t always with newly launching managers.

“We think that the sweet spot right now is actually re-seeding managers as opposed to seeding a new fund from scratch, which requires time for them to grow,” Bruce Lipnick, Asset Alliance CEO told Opalesque.

Stories of funds raising assets are in the headlines often enough that there is a level of optimism through the industry that re-growth is solidly underway.

In February hedge funds saw $16.6bn in returning assets (BarclayHedge/TrimTabs), however, the cold hard facts still add up to an industry with assets that are only a shadow of their former self. For most managers this means asset bases are still decimated. And for a large number of these managers, pointing to strong perform......................

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