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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 48

Saturday, December 03, 2011

A report by the Financial Times showed that investors’ appetite for new hedge fund launches has been revived in their search for “next generation managers”; Japanese firm FGI Capital Partners has launched a $500m event-driven hedge fund; Martin Coward said he would launch a systematic trading fund in the first quarter of 2012 with $50m in seed money; former bankers at Goldman Sachs Group and Mizuho Corporate Bank said they would launch the Edgebell Global Macro hedge fund in February next year; ex-Goldman Sachs Group proprietary traders Bennett Grau and Mark Mallon have teaming up with former colleague Marc Mezvinsky to start a hedge fund; and Deutsche Bank and Omega Advisors will launch the UCITS compliant DB Platinum Omega fund on the bank's UCITS platform this month.

Goldman Sachs Group is said to be now focusing on seeding hedge funds after it got burned by investments in its own hedge funds at the height of the financial crisis.

Capital One Financial revealed plans to restructure or sell its hedge fund and private equity investments that are prohibited under the new Volcker rule in the U.S.

Castlestone Management’s administrator Antony Batty & Co said it is preparing to sell the assets of the beleaguered firm; and wealthy investors and institutions apparently withdrew $11bn from hedge funds in October. Pierre-Henri Flamand’s Edoma Partners fund’s performance suffered a -3.79% loss during Q3; according to SEI and Strategic Insights, regulated alternative funds like UCITS funds would continue to outperform and could reach $1tln by 2014; Insch Capital’s gold and currency hedge fund Goldilocks, returned +9.6% YTD and said it is re-opening to investors ......................

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