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Alternative Market Briefing Weekly

Hedge funds assets rose as inflows outpaced losses : hedge fund news, week 44

Saturday, November 02, 2013

In the week-ending 01 Nov, 2013, it was reported that according to Citi analyst Sandy Kaul, hedge funds assets increased as inflows outpaced losses; Fortress Group raised $2bn in assets for its alternative investment businesses in Q3; several hedge funds were said to have raised $200m for California-based platform Snapchat; and North Street Global Fund reported an increase of $445m in assets from six new hedge fund clients.

eFinancial news rounded up the five biggest hedge fund launches in 2012, including Frere Hall Capital Management, Hengistbury Investment Partners, Naya Management, Stone Milliner Asset Management and Verrazzano Capital; Wayne Yu announced he would start a new hedge fund with $250m seed capital from SocGen; Cerberus Capital started the commercial mortgage debt fund Cerberus CMBS Opportunities Fund; Bill Fleckenstein of Fleckenstein Capital said he plans to start a new short-only stock fund early next year; Doug Gordon, Jon Hilsabeck and Don Jabro have opened their own equity hedge fund startup after the closure of Vinik Asset; and Monnelly and David Bonnier have started a new London-based hedge fund earlier this month to bet on falling stocks globally.

London-based Old Park Capital has launched an offshore fund called the Maestro Fund.

Harcourt launched to UCITS funds, the Vontobel Fund – Pure Momentum Strategy and the Vontobel Fund – Pure Dividend Strategy; and Neuberger Berman announced the launch of the Neuberger Berman Absolute Return Multi-Strategy Fund.

Oakley Capital closed its commodities fund of hedge funds as performance across the industry retreated for a third year; and Ziff Brothers announced plans to gradually shut down its U.S. hedge fund.

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