Wed, Jun 28, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 40

Saturday, October 09, 2010

Kirsten Bischoff, Opalesque New York:

Last week brought a welcomed surge in hedge fund launch announcements. We heard of fund launches from Javelin (a $31m global l/s equity), Union Capital Management (l/s equities), LNG Capital (European high-yield debt), United Capital Markets (debt), Cygnus Asset Management (Europe-focused, event-driven), Jabre Capital (event driven). Two UCITS announcements were in the news this week with news of the Merchant Capital’s Global Resources Fund and Quant Global Equities Fund and Canadian investors will have a shot at investing in Blackheath’s volatility arbitrage fund. Meanwhile, John Meriwether hopes the third time is the charm with the launch of JM Advisors’ two funds (global macro).

Also launching hedge funds is Resco Funds, which announced the launch of 2 funds (structured products/derivatives) and the impending launch of a third (long/short, systematic, intraday strategy in plain vanilla financial futures). Mutual fund firm Simple Alternatives also announced the launch of an institutional hedge fund of funds in a mutual fund format.

There was also seed activity this week in conjunction with launch news as former Pershing Square partner Richard McGuire announced he will launch his l/s equity fund (targeting real estate and consumer goods) with the backing of Blackstone. And, Q Investments, which recently launched a seeding business is actively on the hunt for liquid strategy funds to allocate to.

New Stream Capital continues to see turmoil as most of the staff has been laid off and while managers are still charging fees, the funds’ closure seems imminent. Also closing will be Macklowe Asset Management’s $250m fund that had the backing of Izzy Englander’s Millennium Management. The firm will shutter due to lack of asset growth, as Julie Macklowe instead turns to focus on business opportunities in the fashion industry. Also closing is former “best hedge fund launch” (AsianInvestor) fund......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Advisors slash hedge fund positions, Theravance Biopharma is a top pick of investment guru Seth Klarman, As asset management industry grows a search for new revenue streams[more]

    Advisors slash hedge fund positions From Barrons.com: Financial advisors have cut wealthy clients' exposure to hedge funds by up to one third over the past 12 months, The Financial Times reports. Advisor firms in the FT's annual top-300 ranking have reduced their hedge fund allocation to

  2. Investing - U.S. hedge fund in anonymous bet against Tesco shares, Hedge funds made repeated attempts to invest in Veneto banks, Steve Cohen's Point72 takes stake in struggling electronics retailer Conn's, Hedge fund Excalibur bets Riksbank will tighten by end of year[more]

    U.S. hedge fund in anonymous bet against Tesco shares From FT.com: A $20bn New York hedge fund is using an offshore shell company to anonymously bet against the shares of the UK supermarket Tesco, raising fresh questions over the efficacy of European short selling disclosure rules.

  3. ...And Finally - Nighttime barbecue festival in downtown Memphis![more]

    From Newsoftheweird.com: On May 19, Carl Webb and his wife left a nighttime barbecue festival in downtown Memphis and headed home. They drove 14 miles on an interstate highway before a police officer pulled them over to ask if Webb knew there was a body on his trunk. The man was clinging to the lip

  4. Global macro hedge funds lose on sharp drop in oil prices[more]

    Komfie Manalo, Opalesque Asia: Global macro hedge funds suffered losses due to the sharp fall in oil prices and the drop in U.S. and U.K. Treasury yields, Lyxor Asset Management said in its Weekly Briefing. The Lyxor Global Macro Index fell -1.0% from 13 June to 20 June (-3.4% YTD). The Lyxor

  5. State pension plans see liabilities increase in 2016 - Wilshire[more]

    Bailey McCann, Opalesque New York: The funding ratio of state pension plans dropped four percentage points to 69 percent in fiscal year 2016, according to Wilshire Consulting. A year ago, Wilshire Consulting's annual state funding report uncovered a funding ratio of 73 percent. "U.S. stock pe