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Alternative Market Briefing Weekly

Blackstone Group plans to launch a fund that will buy stakes in hedge fund managers: hedge fund news, week 43

Saturday, October 27, 2012

In the week-ending 26 October 2012, it was reported that Blackstone Group plans to launch a multibillion-dollar fund that would buy stakes in hedge fund managers in the secondary market; John Mack partnered with tax lawyer Joel Ehrenkranz to launch a fund of funds business called E&M Advisors; former Citadel senior portfolio manager Kevin Scherer announced plans to launch a residential and commercial mortgage debt and ABS hedge fund called Continuum Investment Management; MLC hired three new hedge fund managers for its new fund of hedge funds strategy; Highfields Capital’s portfolio manager Matthew Sidman is leaving the firm to start his own hedge fund; and Tokyo-based hedge fund Asuka Asset Management launched a new insurance-linked securities fund with $40m of capital.

Osmosis Investment Management has launched the first UCITS fund to directly address resource efficiency; and Sturgeon Capital launched the first Central Asia-focused UCITS hedge fund.

The Emanagers Total Index was up 0.1% in September (+4.33% YTD); The Parker FX Index gained 0.28% (-0.99% YTD); And the BofAML investable hedge fund index went up 0.19% month to date.

In performance, Brevan Howard‘s flagship hedge fund, the Master Fund, gained 1.81% in October compared to 0.58% for September; some hedge fund managers are making a killing this year apparently, including David Tepper (+25%), Steve Mandel (+30%), and Josh Birnbaum (+39%); Greenlight Capital Funds posted +9.4% in Q3 (+13.2% YTD) and David Einhorn blasted the U.S. Federal Reserve’s QE3; Agilith Capital’s North American Diversified Fund ......................

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