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Alternative Market Briefing

2014 seen as "great year" for hedge fund startups

Monday, January 20, 2014

Komfie Manalo, Opalesque Asia:

The year 2014 could be a great year for hedge fund startups as more experienced hedge fund managers have indicated their intention to start their own firms and larger alternative investment managers have made seed money available.

A report Pensions & Investments said that hedge funds were launched in the recent weeks at a pace not seen since before the 2008 global financial crisis. It added that banks are spinning out their hedge fund and proprietary units to comply with the implementation of the Volcker Rule in the U.S. while institutional investors are more willing to invest with managers with shorter-than-normal track records of managing funds.

Jon Hansen, managing director and hedge fund specialist at Boston-based investment consultant Cambridge Associates noted that towards the end of last year and at the start of 2014, several senior hedge fund executives have left their firm to start their own.

Cliffwater CEO Stephen L. Nesbitt added that another factor that is pushing hedge fund launches is because many large hedge funds have closed their funds to new investors, and many are not currently hiring.

Nesbitt described institutional investors as having reached "phase two" level which now means most of them are in the lookout for new hedge funds to invest, as most big funds are closed to new inve......................

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