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Benedicte Gravrand, Opalesque London: A roundup of the week’s hedge fund launches, closures, index performance, trends, regulatory, legal and financial events pertaining to the alternative investments industry.

Last week, we heard of fund launches from Palisades Park (1 x multi-strat, 1 x Sharia); InfoSpi (green); Finisterre (EM); Althea Capital (EM); Gartmore (L/S pan-European); Pangu Capital (Greater China); Reech CBRE (real estate); Kronos Investment Advisory (market neutral); Aristarc Capital (Japan); Brennus (convertible); Grupo Banco Popular (FoHFs); and Heartwood Wealth (multi-assets). Galileo Capital Management, a boutique investment management and advisory firm, launched in London and Hong Kong and will manage bespoke alternative asset funds.

Gerry Catenacci closed his hedge fund Principled Capital Management, which was down in both 2008 and 2009; and Goldman Sachs’ asset management unit closed its Global Equity Opportunities Fund at the end of December, after redemptions and poor performance over the past 24 months.

The Lyxor Global Hedge Fund Index was down 0.33% in December, +5.15% (est.) in 2009; the EDHEC hedge fund indices ended 2009 on positive note, except for CTA and Short-Selling; the Scotia Capital Canadian Hedge Fund Index was up 2.12% in December, 28.62% YTD; and the Barclay CTA Index was down -0.09% in 2009. Funds of hedge funds’ assets were cut down to $440bn, almost half their May 2008 size, said Eureka......................

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