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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, Opalesque readers learned about fund launches from Ping Jiang's Ping Capital which will add an emerging markets macro fund to its roster, New York-based, $600m Helios Advisors (long/short energy), merger arb and long/short equity firm Alpine Associates Advisors has started a new hedge fund with $29.4 in initial assets. Geneva-based Peak Partners also announced the launch of a hybrid fund of funds , Lawrence Clark has left his post as senior analyst at Harbinger to launch his own fund (event driven), Braeside has launched a second fund with $73.86m, and two chess players and a private investigator have launched the Genius Hedge Fund.

Prop desk spin outs continue with Goldman Sachs traders Daniele Benatoff and Ariel Roskishas securing $300m in backing from hedge fund Brummer & Partners to spin out a fund of their own. Morgan Stanley has also announced the spin off its proprietary trading as an independent firm by the end of 2012; PDT Advisers will be run by current prop head Peter Muller. That bank also announced the addition of a 4th UCITS fund to its platform, a new Algebris long/short equities offering.

Only one fund announced a closure last week, with Gal......................

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