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In the week-ending 11 May, 2012, it was reported that D.E. Shaw had launched the Alkali Fund to invest in European bank loans and mortgages; Centaurus trader Bill Perkins was reported to be planning to launch his own hedge fund after John Arnold announced the fund’s closure; Larch Lane Advisors launched a fund of funds that will invest in the “founders shares” of early stage hedge fund managers; former Deutsche Securities banker Ryo Ishiyama said he would start a CTA hedge fund in July; Credit Suisse A.M. launched an alternatives fund that will deliver the returns of the Dow Jones Credit Suisse Hedge Fund Index; and Cheyne Capital announced the launch of two UCITS IV compliant hedge funds. Also, the China International Capital Corporation teamed up with Sloane Robinson to launch the Greater China long/short equity fund.

There were several fund closures. Riley Paterson Investment Management Pte is to shut its only hedge fund because assets are expected to decline to a 10th of its peak; macro fund Sabretooth Capital Management, that was seeded by Julian Robertson's Tiger Management in 2009, will also shut down following losses and disagreements between co-founders Erez Kalir and Craig Perr; former Morgan Stanley co-president Zoe Cruz announced she would liquidate Voras Capital after losing 8% last year; and Fortress Investment Group said it would close its commodities fund in May after losing almost 13% in the past four months.

The HFRI Fund Weighted ......................

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