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Alternative Market Briefing Weekly

Deutsche survey says hedge fund allocations may triple this year: hedge fund news, Week Nine

Saturday, March 02, 2013

In the week ending March 1, 2013, veteran managers Adam Wolfberg and Steven Landry teamed up to launch a new technology, media and telecom hedge fund; former GLG partner Raffaele Costa unveiled the first real estate hedge fund of his new firm Tyndaris, said to be one of the boldest start-ups since 2008; Revere Capital Advisors’ REM Founders Fund is now open to investors; Eric Halet, who stepped down from Algebris last year, will launch his new Silvaris global long/short equity strategy in the next few months; Eyck Capital Management will start its first fund, Eyck European Tactical Distressed Opportunities, on April 1, founder Khing Oei said; Napier Global Capital spun out of Citigroup; Tudor Investment is planning its first equity funds since stock manager James Pallota left the firm in 2009; and Morgan Stanley launched the MS Discretionary Plus UCITS Fund.

Gavea Investimentos closed down its high-yield credit fund after its head of private credit was hired by JPMorgan’s Brazilian unit; Savern River Capital said it would wind down its operations after a “challenging” investing environment; and State Street Global Advisors’ alternative unit SSARIS closed its Japanese fund of hedge funds due to dwindling assets and poor returns.

The Parker FX index was up +0.93% in January; and the Opalesque A SQUARE Index gained 1.39%.

Event-driven hedge fund JJN Capital Fund posted positive performance in January with 2.23% gains; and Fortress Investment said that its profit more than doubled in Q4-12 on higher fee income from managing funds.

According to Deutsche Bank......................

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