Sat, Oct 1, 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. Opalesque Exclusive: BlackRock taps Artivest for alternative investment platform partnership[more]

    Bailey McCann, Opalesque New York: BlackRock will be working with New York-based Artivest to provide a platform for broader distribution of BlackRock alternatives funds. Artivest is a technology-driven alternative investment platform that also offers brokerage services. BlackRock has approximatel

  2. Eden Rock buys Gottex stake in ERG Asset Management[more]

    Matthias Knab, Opalesque: Eden Rock Group announced the purchase of Gottex’s stake in ERG Asset Management and so the firm is now wholly owned by Eden Rock. The two firms established the joint venture in 2011 to focus on providing cost effective solutions to funds holding illiquid investments, as

  3. "Hedge fund industry needs to shrink"[more]

    Komfie Manalo, Opalesque Asia: Writing for CNBC, Josh Brown, creator of The Reformed Broker blog and financial advisor for Ritholtz We

  4. Strategy - Voyager Management wants to invest in smaller hedge funds[more]

    From Valuewalk.com: Voyager Management, a $475 million fund of funds, is looking to downsize the hedge fund’s in which they invest, looking for smaller funds with assets under management that enable the fund to be nimble. The fund is looking for noncorrelation and will consider long / short equity

  5. Asia - Quant hedge funds are China's hot new export, Europe banks return to Korean brokerage market; target debt, alternative products[more]

    Quant hedge funds are China's hot new export From Bloomberg.com: Add China’s quant shops to the list of hedge funds branching out across Asian markets. Quantitative money managers from the world’s second-largest economy are opening offshore funds at a never-before-seen pace, according to