Wed, Dec 2, 2015
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 30

Saturday, July 30, 2011

There were a few launches last week including credit managers Christofferson Robb & Company and Chenavari Investment Managers, which launched a combined $100m new hedge funds. We learned that Former Goldman Sachs trader Guy Shahar formed hedge fund DSAM Partners (European long/short equity fund), and that Dalton Strategic Partnership has hired Goldman Sachs’ Gaurav Pant to run the MST Indian Absolute Return Fund. AQR Capital Management created a reinsurance group to develop investment strategies, and we found out that former Highbridge Asia head Carl Huttenlocher plans to launch a hedge fund in September.

The most surprising news of last week was that George Soros announced the imminent closure of his $25.5bn hedge funds and make it a family office. A survey by Infovest21 showed that 56% of hedge fund managers are also planning to close their funds and run family offices. But industry analysts say Soros's family office move is unlikely to spawn flood of imitators.

Much of the talk this week also focused around the breaking news that Israel ‘Izzy’ Englander revealed plans to sell a minority stake in Millennium Management, currently estimated at a value of $300m to $500m.

In assets LionRock Capital Pte, said it would stop seeking outside investors for its hedge fund and will focus on managing the partners’ money. Keith Meister's Corvex Capital attracted $500m since the fund’s launch in March. SAC Capital Advisors LLP will close its flagship fund to new investors after achieving optimal size. And, with earnings week announcements came news that MF Global reported that its first fiscal quarter 2012 earnings rose 8% to $314.5m; and, T. Rowe Price announced its assets rose $11bn in Q2, to reach $520.9bn (up from $509.9bn at March 31, 2011).

Hennessee co-founder Charles Gradante said that hedge funds’ dismal per......................

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. David Einhorn's hedge fund plunged 5.2% in November, set for 2015 loss[more]

    From David Einhorn’s main hedge fund at Greenlight Capital fell 5.2 percent in November and is poised for only its second losing year in almost two decades. The losses bring the fund’s yearly drop to almost 21 percent, according to an e-mail sent to clients that was obtained by Bloomb

  2. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  3. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  4. Commodities - Stung by oil, distressed-debt traders see worst losses since '08[more]

    From It’s mid-November, but for investors who trade in the debt of distressed companies, the year’s already done -- and they lost. Hedge funds that specialize in the debt are grappling with their worst declines in seven years. Funds managed by Knighthead Capital Management, Candlewood

  5. Regulatory - Major changes in partnership audit procedures contained in 2015 Budget Act[more]

    Contained in the Bipartisan Budget Act of 2015, signed by President Obama on November 2, is a rather complex provision that materially changes how partnerships are audited. Generally effective for tax years beginning after December 31, 2017, the so-called “TEFRA” and “Electing Large Partnership” rul