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Alternative Market Briefing

Opalesque Roundup: Hedge fund closures overshadow new launches in 2018: hedge fund news, week 49

Monday, December 10, 2018

In the week ending December 7th, 2018, Eurekahedge reported 463 hedge fund launches this year up to the end of October versus 477 fund closures. The majority of funds that launched were long/short equities, followed by macro and multi-strategy funds. Most of those that closed down were long/short equities, and then CTA/managed futures and macro funds.

Among the latest Fund Closures, the founder of Paris-based boutique Oaks Field Partners has closed one of his longest-running funds after investor interest in classic bond funds fell; Brenner West Capital Partners is closing after 13 years in business, according to people familiar with the matter, the latest hedge fund to close in a tumultuous year for the industry and John Labanowski told investors that he's closing his $800 million Brenham Capital Management after two years of losses and shrinking assets.

In performance, buoyed by growing interest from institutional investors, 2018 was supposed to be the comeback year for hedge funds. It has not worked out that way. Some of the hedge fund industry's biggest names, including Millennium Management and Steve Cohen's Point72 Asset Management, suffered sharp losses in November, even as equity markets bounced back. But JANA Partners posted a small monthly loss in November.

Greenlight Capital, the hedge fund led by Davi......................

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