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By Kirsten Bischoff, Opalesque New York: A roundup of last week's hedge fund launches, closures, index performance, trends, regulatory, legal and financial events pertaining to the alternative investments world.
There was an exodus trend in banking this week as hedge fund launch announcements included news of a 45 person lift out from Barclays. The team have formed a separate fund to manage $12.3bln of the bank's toxic debt; also this week 30 bankers (including the head of global hedge funds) left Societe Generale, forming Paris-based Nexar Capital and aiming to raise $10bln over the next 5 years; additionally, former traders from Morgan Stanley and Deutsche Bank have formed distressed debt firm Yorvik Partner; and Stephane Pizzo, former director of Unigestion's Singapore offices launched his FoHF firm Lotus Peak Capital.
Also launching funds are the former Macquarie team starting Helix Partners (quant/global equities), Rathbone (recovery opportunity), Raven Rock Capital (corporate credit), Ancora West Advisors launched l/s fund The Thunderbird Tahoe Fund, and the new Tiburon Partners l/s fund will target alternative energy, emissions, services, and other resources equities.
Stillwater Capital will launch the Direct Lending Fund (short-term ABL), Tuttle Wealth Management launched its first two hedge funds (multi strategy and low volatility), and the Sal...................... To view our full article Click here
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