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From Kirsten Bischoff, Opalesque New York:
Opalesque readers who follow our weekly review of hedge fund launches, closures, trends, etc may have noted the list of launching funds has been maintaining a steady pace of late. “Many of the great firms of 2012 are being created this year,” Chris Acito, founder of boutique consultancy firm Acito Advisory Group commented during the Opalesque New York Roundtable.
Hedge fund seeding, which had been one of the growing areas of the industry prior to the financial crisis, has dropped off dramatically, a fact noted by several participants during the Roundtable.
Why there is a dearth of seeders even as talent continues to spin out of larger firms
Industry veterans recognize that now may be the best time to invest in emerging managers, however, investors don’t have much of an appetite for chance. “What investors want at this point are open, premium managers,” commented Ed Robertiello, Managing Director at Credit Suisse, who oversees the firm’s $17bln fund of funds business in the Americas. The firm managed a seeding fund that invested in a few managers during 2008, but stopped due largely to the lack of investor interest in seeding hedge funds.
Affirmed Capital, which manages the Affirmed Healthcare Fund, a long/short fund investing in life...................... To view our full article Click here
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