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Phil Falcone Last week saw launches from Bernheim, Dreyfus & Co., which is launching its new $100m Diva Synergy Fund (UCITS III). Also launching UCITS funds are Deutsche Bank, which is joining forces with Millburn Ridgefield Corporation (DB Platinum IV dbX Millburn Multi-Markets Index Fund), and Morgan Stanley bolstered its UCITS platform, FundLogic Alternatives by adding three US-based hedge fund managers. Meanwhile, a wave of hedge fund managers is poised to launch regulated, onshore vehicles in Europe in 2012.

South Korea has allocated 100bn Won ($92.6m) for the launch of the Global Win-Win Fund, and Pictet Asset Management has launched PTR-Mandarin (long/short China equity). Merchant Capital Limited expanded its platform with the launch of 5 new funds, and Michael Durante has launched the Blackwall Partners Fund (long/short equity).

We also found out about a new hedge fund seeding vehicle being launched by a partnership between Woori Absolute Partners and NewAlpha Asset Management.

Phil Falcone's Harbinger Capital Partners is reportedly facing $1bn in redemptions. Harbinger is offering unsaleable LightSquared stock for redemptions in kind.

Hedge funds assets gained +2.26%, or $57.6bn in April to reach $2.607tln, reported Hedgefund.net. Coming in at a much lower asset total for the industry was TrimTabs Investment Res......................

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