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Alternative Market Briefing Weekly

JPMorgan’s $2tln fiasco makes regulators want to toughen up Volcker Rule: hedge fund news, week 24

Saturday, June 16, 2012

In the week-ending 15 June 2012, it was reported that Toronto-based Aurion Capital Management had launched its first two hedge funds as the firm dipped its toes into alternative investments; Victor Khosla’s Strategic Value Partners raised close to $270m for the launch of its latest Euro fund, the Strategic Value European Opportunities Offshore Fund II; Goldman Sachs veteran Tigrane Kibarian and former Credit Suisse executive Patrick Moerth paired to launch their new hedge fund on July 1; former Citadel and Highbridge manager Toby Bartlett announced plans to launch a North Asia-focused hedge fund next month; former Citigroup portfolio manager Yang Yeo and Janice Dunnett are preparing to launch a hedge fund in Q3-2012; two former Och-Ziff Capital managers Manoj Jain and Sohit Khurana will start their own hedge fund in Hong Kong by the end of the year; and Lawrence “Greg” Whalley said he would launch a new hedge fund called Copperwood with personnel from Centaurus Energy.

Paul Sinclair said he would shut down his Expo Capital Management health-care hedge fund and liquidate the assets to investors.

The Hennessee Hedge Fund Index was down -1.98% in May (+2.15% YTD); The Eurekahedge Hedge Fund Index lost -1.24% (+2.23% YTD); The Newedge CTA Index was up 2.97% in (+2.48% YTD); and the UCITS HFS Index experienced its third monthly loss in a row with -0.70%.

Alan Howard’s BH Macro fund slipped into the red and lost 1.78% in May; Capula Investment’s bet against the health of Spanish banks apparently failed to deliver its promised results; industry experts questioned the double-digit returns of former hedge fund boss Herman Pretorius and his company, Abante; and David Tepper recorded 82% gains in Q1 betting on airline stocks.

A survey by Citi Prime suggested that hedge funds ass......................

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