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Alternative Market Briefing

Asia’s new hedge funds raise $2bn in first half of 2012

Thursday, July 19, 2012

Beverly Chandler, Opalesque London: A survey published by AsiaHedge reveals that, despite tough market conditions, new Asian hedge funds raised $2 billion in the first half of 2012, an increase of 50% over the capital they raised in the previous six months, according to a report from Reuters.

The number of start-ups also increased, rising to 32, from 30 in the second half of last year, according to the survey, with funds such as Asia Research & Capital Management by Alp Ercil, former Asia head of Perry Capital, and Kingsmead by former FrontPoint portfolio manager John Foo joining the fray.

Over 2011, new Asian hedge funds collected $4.43 billion from significant launches such as former Goldman Sachs Group Inc trader Morgan Sze's Azentus and former Asia head of Highbridge Capital Carl Huttenlocher's Myriad.

"We anticipate several high-quality launches (in the second half of 2012), aided by better macro clarity post the U.S. elections and a desire on the part of global allocators to correct their structural under-allocation to Asia," Aradhna Dayal, head of Asia for HedgeFund Intelligence in Hong Kong, said in a statement.

Looking forward, the second half of 2012 is expected to see h......................

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