Last week saw several launches led by GLG which launched a UCITS version of its European long-short equity hedge fund, the GLG European Equity Alternative (long-short equity). We also learned of launches from Nomura proprietary trader Benjamin Fuchs ($400m hedge fund), French asset manager Tikehau Investment Management (3 funds), Altegris (macro fund), and CalPERS will launch a vehicle focused on domestic emerging managers. We also heard that Lyxor Asset Management is considering the launch of a pure Asian quantitative fund. RAB Capital will set to de-list after agreeing to buyout terms. And, the only closures we heard about last week were due to funds seeing higher asset inflows. Dalton Strategic Partnership has hard closed its $600m European Absolute Return Fund, and Raging Capital will close to new investors until 2012 after returning 28.3% YTD in 2011. Hedge funds assets were down in June due to concerns about European debt woes, commodities, and the U.S. dollar. Even though hedge funds grabbed over $8bn in asset inflows in May (heavily favoring commodities), Hedgefund.net reported that in June redemptions saw an uptick. Merrion European Absolute Return Fund’s assets were up 65% one year after inception. Abrams Capital Management has raised $2.37bn in limited partnership interests for its hedge fund, Abrams Capital Partners II LP. Castle Alternative Invest initiated a share buyback program. Performance for the first half of 2011 are beginning to roll in and Swiss fund of hedge funds ALTIN is ...................... To view our full article Click here |
Alternative Market Briefing Weekly
Saturday, July 16, 2011
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