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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 49

Saturday, December 10, 2011

Alex Denner left Carl Ican to launch his own hedge fund; Japanese asset manager Sparx Group is planning to launch a hedge fund that will invest in infrastructure for renewable energy; Barclays Capital has announced plans to launch an onshore version of its Radar fund (UCITS) in February 2012; GAM said it would unveil a UCITS version of David Morrison’s Global Macro Hedge fund in mid-December; Eashwar Krishnan, a former analyst at hedge fund Lone Pine, and Tanvir Ghani, former head of capital introduction for Asia-Pacific at Goldman Sachs, are setting up a $1bn Asia-focused hedge fund.

Commonfund has launched a new $25.2m hedge fund focused on real estate investments; Germany's Aquila Capital said it would launch an Asia-focused hedge fund and a $150m agricultural fund in the first half of 2012; credit specialist announced plans to launch a high-yield credit fund in the first quarter of 2012; and data from Hedge Fund Research suggested that hedge fund launches dipped in Q3 but remained on course for the best annual launches total since 2007.

Redemptions pressures forced hedge funds Cadogan Management to shut its doors to new business and transfer its operations and talent to Cantor Fitzgerald; and Hunter Global Investors said it would return investor’s money following poor performance this year.

Hedge funds assets shrunk this year as rich individuals drastically reduced their allocations to the industry and are planning more cuts; Daniel Och, the CEO of Och-Ziff Capital Management Group, admitted that his firm may have sold shares too cheaply last month as part of a plan to raise $250m to repay debt; Och-Ziff has entered into Rule 10b5-1 trading plans of up to $20m; Lord Rothschild’s London-listed RIT Capital Partners’ assets fell by £190.1m ($296.7m) or 9.5% since March as at end September; ......................

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