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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 5

Saturday, February 06, 2010

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

Last week, we heard of fund launches from new firm Castle Hill (flagship); new firm LGBT Capital (LGBT consumer market); Falcon (L/S equity); Crystal (customizable FoHFs); Orre & Nyberg (L/S equity); Sarah Bernett (global macro); Thompson Davis (L/S equity); Aegon (UCITS III global absolute return); and J-Flag (Japan L/S).

Liontrust’s FuM dropped, the firm is closing its North American offices and planning hedge fund launches; South Korea’s Woori shut down its Asia multi-strat fund, seeded a new hedge fund, and will launch a FoHFs with Temasek's Fullerton FM. AC Investment Management shut its emerging managers FoHFs; and BlueMountain Capital is liquidating its debt fund after having ‘captured the big opportunity.’

Following Obama’s announcement on 22-Jan of new bank rules, Citigroup said it may sell or close its PE and RE units and its hedge fund group; Commerzbank wound down its FoHFs business Comas and returned assets to investors; and Morgan Stanley is to evaluate its hedge fund investments, including FrontPoing and Lansdowne.

The hedge fund industry is improving but many challenges remain, Moody’s said in a report; Stride Capital Group launched a partnership that will focus on providing capital and expertise to talented emerging hedge fund managers; shareholders in listed FoHFs Dexion refused to sell their holdings, despite being given the chance to do so at above market values; ......................

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