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Alternative Market Briefing

Review of hedge fund launches, closures, trends, regulatory and legal events - week 21

Monday, May 30, 2011

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Carl Huttenlocher
Second and third generation managers continue to announce fund launches with news of former Highbridge Capital Management manager Carl Huttenlocher near launch on a hedge fund in Hong Kong, former Tiger Asia MD Hugh Kim launching Greyson Capital Management (domestic demand industries in Japan, China and South Korea), and former Shumway Capital pro Paul Hudson is launching a new fund (Glade Brook Capital). Robert Bierig (formerly of Geico Investments) will also launch his first fund, Amethyst Capital Partners (long-biased, concentrated value).

Principia Capital Advisors is set to launch a $750 million-plus Asia hedge fund (CTA) Patrick Quinn has launched the Quinn Opportunities LP (event-driven), and BGB Weston launched the BGB Opportunity fund (managed futures). Pictet also announced the Total Return-Kosmos UCITS III Fund (long/short credit fund).

Industry-wide, hedge fund redemption requests are on the rise after the commodities route early this month. Individual funds that are liquidating include Black's Link Capital, which will return investors capital after only one year in operation and FrontPoint Partners’ flagship FrontPoint Multi-Strategy Fund.

Global hedge funds reached $1.81tln in April as assets gained $52bn, Eurekahedge said. More hedge funds are tapping into first-loss capital to raise asset......................

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