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Alternative Market Briefing

New launches, US opportunities dominate hedge fund industry views at SALT

Friday, May 10, 2013

Bailey McCann, Opalesque New York:

Hedge fund industry leaders from John Paulson to Leon Cooperman are gathered in Las Vegas for the the Skybridge Alternative Investment (SALT) conference. The conference is hosted by Skybridge capital, and is entering its fifth year. Panels have included a wide range of funds and investors, most of which are upbeat on the US and the possibility for recovery.

It has been a rough couple of years for the hedge fund industry as returns continue to lag the performance of the S&P 500, disappointing investors and putting downward pressure on fees for some funds. Yet, the panels offered a number of opportunities throughout various sectors of the US economy. Panelists compared the situation in the US now to the economy in the early 1990s, they were also upbeat on Japan noting growth indicators beyond abenomics.

In a panel on distressed investing, Christopher Pucillo of Solus Alternative Investments highlighted late-stage bankruptcy liquidations as a story that interests him as few players are in the space yet. Public shipping companies were cited as an opportunity here as that industry is facing significant failures.

I spoke with Ingrid Pierce, Global Managing Partner at Walkers law firm about her views on the industry as well. "We are seeing significant new launch activity," she tells Opalesque. This trend is notable as the fundraising climate for emerging managers still remains fairly tight. She explains that she is seeing new la......................

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