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Alternative Market Briefing Weekly

Opalesque Roundup: Blackstone latest entrant to hedge funds game through independent management companies: hedge fund news, week 28

Saturday, July 05, 2014

In the week ending 04 July, 2014, Blackstone Group which is already the largest investor in hedge funds has signed on traders in preparation to launch its hedge funds group that involves independent management companies; Solomon "Sol" Kumin said he was planning to launch a stock trading hedge fund firm; and Franklin Templeton is working on launching a range of low-volatility derivatives-wrapped equity funds.

Ashmore unveiled its new short duration emerging markets debt fund, the Ashmore Emerging Markets Short Duration Fund.

Ziff Brothers Investments is closing down the last of its two hedge funds; and Steve Eisman shuts down his hedge fund Emrys Partners.

The Parker FX Index was up +0.66% in May (-0.84% YTD); The HFRX Global Hedge Fund Index went up 0.93% in June (+1.77% YTD); The IndexIQ Hedge Global Macro Beta Index rose 0.58% (+3.10% YTD); And the UCITS Alternative Index Global gained 0.22% in June (+0.94% YTD).

Paulson's Credit Opportunities fund performed positive in May and was up 6.6% YTD; Paulson Credit Fund gained from Lehman, Rescap and Dex Media; Meredith Whitney’s American Revival Fund gained 4.7% in June to cut its losses; Dan Loeb's Third Point flagship fund gains 6% in the first half of 2014; Barry Rosenstein’s Jana Partners rose 1.6% in June and gained 5.3% in the first half of the year; Bill Ackman’s Pershing Square posted a 25% gain in its main fund for the first six months of the year; several hedge funds hurt by tumbling technology stocks earlier this year are now generating profits; and Andreas Halvorsen’s Viking Global gained 6.6% in the first six months of the year.

Private equity funds raised $190bn in assets in the first six months of 2014; David Paradice has returned more than $800m of clients’ money because he feels his fund has become too big to beat the market; and TPG Capital joined Hong Kong’s HS Group to back startup and newer Asian hedge funds.......................

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