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Alternative Market Briefing

Opalesque Roundup: Hedge funds post strongest monthly gain in more than a decade: hedge fund news, week 19

Monday, May 11, 2020

In the week ending May 8th 2020, HFR reported that hedge funds jumped about 4% in April, the strongest monthly gain in more than a decade. For the year, the industry is still down 7.4% on an asset-weighted basis, the HFR data show. The HFRI Fund Weighted Composite Index (FWC) jumped +4.8 percent for the month, with gains led by Equity Hedge, Event-Driven, Energy/Basic Materials, and Activist strategies, as reported today by HFR.

In new launches, Investcorp Holdings has reached the first fundraising close on its debut $750 million fund to buy stakes in alternative asset managers such as private equity and real estate investment firms; Tom Conheeney, a former executive at Point72's predecessor SAC Capital, is launching his own hedge fund, EmeraldRidge Advisors, in the first quarter of 2021, and Morgan Stanley Investment Management (MSIM)'s private markets arm, Alternative Investment Partners Private Markets, has closed a new fund at $110m focused on addressing critical climate issues.

Meanwhile, venture capital firm Runa Capital revealed today that it has raised $157 million for its Runa Capital Fund III, oversubscribed by $22 million over its initial goal of $135 million; Italian private equity firm Star Capital ha......................

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