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New Managers June 2012

Launches - A recapitulation of maiden launches in late May and June 2012 so far.


New hedge fund launches in 1Q-12 increased to a level not reached since 2007 as hedge fund capital rose to a record level of $2.13 trillion, according to the latest Market Microstructure Industry Report, recently released by hedge fund data provider HFR (Hedge Fund Research, Inc.). New fund launches totalled 304 in the first quarter, narrowly eclipsing the 298 launches in 1Q-11 for the highest quarterly total since 4Q-07. What's more, hedge fund liquidations also increased during the first quarter, with 232 funds closing, the highest quarterly liquidation total since 240 funds closed in 1Q-10.

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

1. Aesir Capital Management LLC, formed in February by the former fixed income group of troubled hedge fund Diamondback Capital Management, is starting a new fund, Aesir Credit Master Fund Ltd, this month.

2. Robert Lacoursiere, a former partner at Paulson & Co, is launching equity hedge fund Petrarca Capital, together with former Paulson colleague James Fotheringham.

3. The first hedge fund from Dallas-based Commerce Street Investment Advisor, the firm that recently reunited former Highland Capital Management veterans Kurt Plumer and Richard Jakob, is launching this month.

4. The Crescent Point Group, an emerging markets private equity firm, formed Crescen......................

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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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