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Alternative Market Briefing Weekly

American hedge funds getting bigger and bigger: hedge fund news, week 36

Saturday, September 07, 2013

In the week-ending 06 Sept. 2013, it was reported that America’s hedge funds are getting bigger and bigger with the top 287 firms managing $1.57tln.

Blackstone Group said it raised $5bn for the launch of its second rescue lending fund; Dan Higgins partnered with Micky Breuer-Weil and David Haysey and launched Marylebone Partners, an asset management boutique; the partnership between Prestige and Methexis Capital unveiled a fund specializing in secured lending to private companies in the UK; former Psagot Investment CEO Roy Vermus is returning to the capital market with the launch of a hedge fund; Petra Partners unveiled a peer-to-peer hedge fund for launch on October 1 this year; and Pine River Capital will start a $150m China-focused fund next month.

The HFRX Global Hedge Fund Index was down -0.86% in August (+3.30% YTD); The Greenwich Global Hedge Fund Index fell -0.75% (+3.49% YTD); The Credit Suisse Liquid Alternative Beta (LAB) index was down 1.01% (+2.86% YTD); All six Market Vectors Hedge Fund Beta indices were down; The IndexIQ's IQ Hedge Composite Beta Index dropped 0.94% (-0.80% YTD); The HFRU Hedge Fund Composite Index went down 0.20% (+0.92% YTD); And the UCITS Alternative Index Global lost 0.40% (+1.34% YTD).

Despite negative returns, hedge funds outperformed the S&P 500 last month, said BofA Merrill Lynch; William Ackman’s Pershing Square lost 3.6% in August from losses in J.C. Penney and Herbalife; and Swiss listed fund of hedge funds ALTIN is up+4.61%YTD.

Cerulli Associates said that the 50 largest asset man......................

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