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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 20

Saturday, May 21, 2011

We learned of launches from Gramercy (master fund with exposure to firm-wide strategies), Para Advisors (multi-strategy UCITS), former Tiger Asia pro Hugh Kim (Greyson Asia Fund a long/short equity strategy), Implied capital (offshore market neutral), and Jeff Middleswart announced he would launch a fund in July (short-selling).

Also announcing a new fund launch was Tiedemann Wealth Management which launched the TWM Partners Fund (global, multi-manager strategy), SAC Capital (quant fund), APG (hedge fund incubator), Palmer Square Capital Management (mutual fund of funds), Deka (multi strategy UCITS), and Stuart Bohart will launch a second and third fund at Fortress.

We also heard that the $40m Twitter based hedge fund Derwent Capital Markets is now open for business.

At the end of the week, the perhaps unsurprising news hit that FrontPoint Partners will close most of its funds by the end of the month due to the effects of its association with the insider trading scandal.

Hedge funds April performance numbers continued to trickle in with multi-strategy hedge fund EMAR fund securing gains, up 1.66% in April, and bringing Citigroup’s Mortgage/Credit Opportunity Fund to 16% YTD, and Arcanum's REIT hedge fund reporting an annualized return of 23.4% in 3 years. Paradigm Capital Management also announced its investment at Stryker Corp., yielded the firm 53% returns.

Global hedge fund assets reached $2.02tln as industry leverage declined, said Hedge Fund Research this week. The return of assets has helped several batte......................

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