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New Managers July 2017

BULLETIN: Seed, new investments, A&P Emerging Manager Index, Preqin: Emerging hedge funds: Can they outperform?

Blackstone backs ex-TPG-Axon exec's new fund

Blackstone Group has written the first check from its latest seeding fund, the$1.5bn Strategic Alliance Fund III, reported Reuters, committing $100m in start-up capital to a new hedge fund run by a former TPG-Axon executive.The New York-based investor, one of the world's biggest alternative asset managers, funded Keita Arisawa's Hong Kong-based Seiga Asset Management earlier this month. The hedge fund, launched earlier in 2017, plans to make bets on Asian stocks.

Leda Braga broadens horizons

Systematica Investments, the $8bn hedge fund run by ex-BlueCrest Capital manager Leda Braga, has quietly launched its first dedicated fund targeting relative value trading opportunities, reported FNLondon.com. The Systematica Macro RV fund was launched on June 12 with partner capital and has not yet begun marketing to external investors. The fund, which will run most of its risk in relative value strategies, represents a "departure from the more directional approach to macro" typically deployed by commodity trading advisers, according to Braga.

Folger Hill might be turning around

Folger Hill Asset Management, started by Steve Cohen's former chief operating officer Sol Kumin in 2015, suffered deep losses after its launch, but gained 3.7% after fees in the first half of this year in its flagship US fund.

The bulk of those gains came last month, with the stock-focused fund posting a 2.4% return in June, ......................

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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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