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Alternative Market Briefing Weekly

Riley Paterson, Sabretooth, Voras to shut down, Goldman pulls out $250m: hedge fund news, week 19

Saturday, May 12, 2012

In the week-ending 11 May, 2012, it was reported that D.E. Shaw had launched the Alkali Fund to invest in European bank loans and mortgages; Centaurus trader Bill Perkins was reported to be planning to launch his own hedge fund after John Arnold announced the fund’s closure; Larch Lane Advisors launched a fund of funds that will invest in the “founders shares” of early stage hedge fund managers; former Deutsche Securities banker Ryo Ishiyama said he would start a CTA hedge fund in July; Credit Suisse A.M. launched an alternatives fund that will deliver the returns of the Dow Jones Credit Suisse Hedge Fund Index; and Cheyne Capital announced the launch of two UCITS IV compliant hedge funds. Also, the China International Capital Corporation teamed up with Sloane Robinson to launch the Greater China long/short equity fund.

There were several fund closures. Riley Paterson Investment Management Pte is to shut its only hedge fund because assets are expected to decline to a 10th of its peak; macro fund Sabretooth Capital Management, that was seeded by Julian Robertson's Tiger Management in 2009, will also shut down following losses and disagreements between co-founders Erez Kalir and Craig Perr; former Morgan Stanley co-president Zoe Cruz announced she would liquidate Voras Capital after losing 8% last year; and Fortress Investment Group said it would close its commodities fund in May after losing almost 13% in the past four months.

The HFRI Fund Weighted Composite Index declined -0.36% in April (+4.42% YTD); The Bloomberg Aggregate Hedge Fund Index fell -1% (+3.4% YTD); The Eurekahedge Hedge Fund Index was down -0.17% (est.) (3.68% YTD); The Hennessee Hedge Fund Index showed a -0.38% decline (+4.02% YTD); The UCITS Alternative Index Global was down -0.47% (1.27% YTD); The UCITS HFS Index continued its downward trend with -0.36% (+1.83% YTD); and GlobeOp launched an independent asset-weighted Hedge Fund Performance Inde......................

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