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New Managers March 2013

Launches and New Funds' News - Recent maiden fund launches and related fund news


HFR: 1,108 funds were launched in 2012

"New hedge fund launches rose at year end 2012, narrowly trailing total launches for 2011 as total hedge fund industry assets increased to a record of $2.25 trillion," said the latest HFR Market Microstructure Industry Report, released by Hedge Fund Research (HFR).

There were 284 new launches in 4Q12, says HFR, representing the 2nd highest quarter for 2012. In 2012 as a whole, 1,108 funds were launched, compared to 2011's total of 1,113. Launches last year were spread across Macro, Relative Value and Equity Hedge strategies.

As for hedge fund liquidations there were 238 in 4Q12 and 873 for the full year, the highest since 2009 when more than 1,000 funds liquidated. Most of last year's closed funds used the Equity Hedge strategy.

We recently heard of those ex-hedge funders striking out on their own:

1) Former GLG partner Raffaele Costa unveiled last month the first fund of his new firm Tyndaris, a real estate fund.

2) Two former-GLG traders, Bart Turtelboom and Karim Abdel-Motaa, begun this month raising money for a new venture called APQ Partners. Their new emerging markets fund, called Alexandria, may soft-launch in the second quarter.

3) BlueSpruce Investments L.P., a new hedge fund started last month in Chicago by two former Madison Dearborn Partners professionals, Tim Hurd and Ed Magnus, has apparently already attracted investments from some of Chicago's wealthiest famil......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
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