Tue, Feb 9, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Millennium grows by almost 40% in second half of 2010, 2011 likely to remain favorable to large managers

Tuesday, February 08, 2011

amb
Izzy Englander
From Kirsten Bischoff, Opalesque New York:

Asset inflows across the hedge fund industry during 2010 are estimated at $22.6bn (Dow Jones Credit Suisse), with much of that flowing into larger funds.

Investors returning to hedge funds have been a boon for funds like NY/London-based, multi-strategy firm Millennium Management, which ended the year up 13.4% (NY Times) made steady asset gains during 2010, and contributed to much of the industry's $22bn+ recovery. According to one person close to the fund the firm's assets grew by almost 40% from $6.9bn mid year in 2010 to $9.6bn as of the end of January 2011.

Of this $2.7bn gain, $800m flowed into Millennium during December 2010 and $250m in January 2011. The firm has had a focused asset-raising drive underway since 2010, when it hired John Novogratz, who prior to that was at Fortress Investment Group as MD and Head of Capital Formation International in the firm's London offices.

End of quarter/end of year spikes are typical for many hedge funds to experience and with investors continuing to favor large funds, and the firm's 2010 performance surpassing its peers (DJCS Multi Strategy index returned 9.0% in 2010), it is reasonable to believe that Millennium will continue to grow at an impress......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. How Einhorn survived a nightmare year[more]

    From Bloomberg.com: Even when a hedge fund has an awful year, which was the case for David Einhorn's Greenlight Capital, there are lessons to be learned. Many funds would have had a tough time surviving a year like Einhorn experienced in 2015, when all the stars seemed to align against him and Green

  2. Legal - Hedge fund founder wins early release in U.S. insider trading case, Gramercy seeking $1.3 billion from Peru over land-bond dispute[more]

    Hedge fund founder wins early release in U.S. insider trading case From Reuters/Streetinsider.com: Former hedge fund manager Doug Whitman on Tuesday won a reprieve from serving the remainder of his two-year sentence for insider trading after several judges expressed skepticism that his 2

  3. Investing - David Einhorn finds a winner in Michael Kors[more]

    From Thestreetinsider.com: Greenlight Capital hedge fund manger David Einhorn took his lumps in 2015. The fund lost over 20 percent on the year amid bets gone bad being long a plunging SunEdison and short a couple high-flying FANG stocks. However, today Einhorn is again showing his stock picking pro

  4. Investing - Avenue Capital's Marc Lasry: We like European bank loans, Comment: A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem'[more]

    Avenue Capital's Marc Lasry: We like European bank loans From CNBC.com: European banks are under immense pressure, but at least one prominent hedge fund has found what it thinks is a good opportunity in the wreckage. Marc Lasry, co-founder and chief executive of hedge fund Avenue Capital

  5. Credit Suisse cherry picks hedge fund ideas[more]

    From FT.com: Credit Suisse Asset Management plans to cherry pick profitable concepts from hedge funds with the launch in Europe of a “best ideas” strategy. The investment arm of the Swiss bank said the strategy will separate it from other funds blighted by “overcrowding problems”. It comes at a time