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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 32

Saturday, August 14, 2010

Kirsten Bischoff, Opalesque New York:

Last week, we heard of fund launches from Emeralt (long/short, Eastern Europe equities) SSY (freight derivatives), Rosecliff Capital (long/short US equity), Reflexion Capital (long/short equity), and a Natixis fund that will be co-managed by Dr. Andrew Lo (managed futures/mutual fund). Also launching are Union Capital Management’s UCM Union Delta Fund (long/short US equity), Carrousel Capital’s Centrix IX Fund (systematic multiple style rotation investment strategy), Global Hedge Fund Group’s oil sands-backed vehicle, Harbinger’s Pan-Asia fund, and a firm launch by former Barclays Global Investors CIO which will eventually bring to market a long only Australian equities fund and a long/short product. Additionally, three asset management firms announced a joint venture in The Seed Fund, which will invest $25m-$50m per diversified portfolio into emerging hedge fund managers.

Managed account strategies being launched as fund vehicles include one from Praesidium, which is replicating a value strategy that has been in place already for two and a half years, and one from Iron Capital, an Atlanta-based firm that will launch the Gateway Fund (concentrated equities with a long-bias). We also heard of a re-launch from Capernico, which will once again focus its Copernico Argentina Fund on opportunities arising in that market. It is also evident that the UCITS trend is here to stay (see: Funds of UCITS trend in full swing, 80% of surveyed funds in launch or pre-launch mode - KDK Asset Management) and this week we heard of another fund being wrapped into a UCITS structure as Jabre announced it will ma......................

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