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Alternative Market Briefing Weekly

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

Saturday, October 08, 2011

Former Morgan Stanley MUFG strategist Alexander Kinmont is to launch a long/short hedge fund at Milestone Asset Management; Structured Portfolio Management started a new fund with $125m; BlueBay Asset Management will launch a range of funds to lend to European companies; Phoenix Investment Adviser incepted the JLP Institutional Credit Fund; ex-Gartmore manager Guillaume Rambourg may launch a new hedge fund in Paris called Verrazzano; Emergence, a new seeding vehicle aimed at increasing the number of fund managers based in France, is to launch with Eur100m ($135m) by 2012.

Morgan Stanley launched FX Gateway, a new multi-manager platform; Matrix introduced the fourth fund on its UCITS platform called the Cantab quantitative UCITS fund; Monsoon Capital opened one of the first alternative strategy UCITS IV funds around.

Former Legg Mason absolute return manager Dipankar Shewaram launched Goldbridge Capital Partners, a European asset management company with $100m (£64.3m) of seed capital; and a team of top traders at Moore Capital is to start a new hedge fund venture called Stone Milliner Asset Management.

AR Magazine claimed that American hedge fundsí assets had risen to $1.399tln so far this year; absolute return UCITS experienced a 150% upsurge in assets (to $115.7bn) YTD to June, said HFI (and according to Naisscent Capital, the number of hedge fund and alternative Ucits funds has reached 1,000+).

Man Group sustained its Standard & Poor's ratings despite an 8.5% decline in assets; GLG Ore Hill raised $200m for a large institutional client's credit mandate; ......................

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