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By Benedicte Gravrand, Opalesque London: A roundup of last week’s hedge fund launches, closures, index performance, trends, regulatory, legal and financial events pertaining to the alternative investments world.

Last week, we heard of fund launches from Income Partners (Asia equity L/S); Quantum Global (multi-strats); Sumitomo Trust Finance (Japan multi-strats); Prodigal (Asia relative value); Mellon Capital (multi-strats); Macquarie (CTA FoHFs); SEB (credit); Taurus (basic-materials); and SaKa Capital (credit). Van Eck Global and AQR launched hedge fund-style mutual funds; and Bull Path Long-Short Fund converted to a mutual fund.

Investment boutique Wheb Ventures launched a new SRI fund management company and Peter Lupoff left Millennium Management to start hedge-fund firm Tiburon Capital Management and invest in distressed debt.

Nicola Horlick was expected to be axed as fund manager of listed hedge fund Bramdean Alternatives, but no such news came out; Asia's biggest hedge-fund Sparx Group is to close its U.S. unit; Hennessy Advisors is to acquire assets of two Sparx Japan funds; Hohn's $9.5bn hedge fund proposed cutting fees and easing withdrawal limits to retain clients after top executives quit and it lost 43% last year; ratings agency Moody's announced changes to the way it rates hedge funds; FoHFs manager Arden Asset Management and J.P. Morgan made a deal under which Arden will manage a $1.1bn proprietary FoHFs portfolio for J.P. Morgan’s investment banking division and J.P. Morgan would seed several new Arden funds and invest in Arden’s flagship; a RSM McGladrey’s hedge fund survey found that managers are seeing volatility and government intervention as the b......................

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