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Alternative Market Briefing Weekly

Former mega hedge fund Stark Investments liquidates while fund closures globally decrease: hedge fund news, Week 16

Saturday, April 20, 2013

In the week ending April 21, 2013, Stark Investments announced it would close down its operations after assets fell by 85% from $14bn to $2.1bn; a report by HedgeFund Intelligence suggested that the rate of closures in the global hedge fund industry went down for the fourth year in a row, with 302 fund shutdowns in 2012 (HFI also reported that hedge funds assets topped $2.2tln in 2012 on the back of solid average performance across the industry and new inflows from investors worldwide); the SS&C GlobeOp Forward Redemption Indicator for April 2013 measured 2.95%, down from 4.33% in March; data from eVestment showed that hedge funds flow turned negative in March amounting to $12.4bn, but flows for the quarter were still positive $7.6bn and total industry AUM reached $2.664tn; and Tower Fund Services commented many investment funds are struggling to raise capital as only 5% of them attract 80%to 90% of all capital flows.

Resonance Asset Management, an alternative asset management firm founded by industry veteran Nick Wood, raised £35m in assets and will launch its inaugural wind energy income fund; and former GLG portfolio manager Berger set up B1 Capital and is preparing the launch of a new European long/short equity hedge fund.

For Q1-13, BlackRock reported that it now manages a record $3.936tln in assets, 7% more than a year ago and 4% more than last quarter; and Blackstone reported a 15% rise from last year in AuM, to a record $218bn.

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