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Opalesque Roundup: Hedge fund assets climb for 7 straight quarters as investors reduce equity beta: hedge fund news, week 16

Monday, April 23, 2018

In the week ending 22 April, 2018, total hedge fund assets increased in the first quarter of the year, rising to a seventh consecutive record as investors reduced equity market beta in favour of M&A-focused Event-Driven (ED) exposures and fixed income-based Relative Value Arbitrage (RVA) strategies. Total hedge fund industry capital globally increased $4.5 billion to a new record of $3.215 trillion.

Avendus Enhanced Return Fund has crossed $152m in assets in the four months since its launch; Jupiter Fund was hit by $1.86bn in net outflows in the first quarter; and Blackstone Group reported a record $449.6bn in assets through a combination of fund-raising and financial gains.

Daniel Sundheim is on track to raise about $4bn for his new hedge fund launch; Louis Bacon is giving his personal backing to his one-time protégé (and former co-CIO) Greg Coffey who is launching a new hedge fund. Shawn Matthews is stepping down as head of Cantor Fitzgerald to start a hedge fund; Jupiter Asset has hired Darren Starr as it plans to launch a US equity long/short fund; VanEck launched a fund that seeks long-term total return from exposure to a range of real assets; Anti Hero Capital is seeking to raise $30m for a new crypto hedge fund; Avenue Capital plans to launch a fund this year that will focus on so-called impact credit investments; and Bushra Hamid has teamed up with three schoolmates to form Plympton Capital, a hedge fund for investing in digital currencies.

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