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Alternative Market Briefing

Opalesque Roundup: Hedge fund industry witnesses two remarkable fund launches: hedge fund news, week 45

Monday, November 09, 2020

In the week ending November 6th 2020, Peter Zhou, a former senior managing director at Coatue, has been launching his own new fund with at least $300 million in commitments already, sources say. China's Hony Capital Ltd. earlier this month closed its maiden venture-capital fund, raising $130 million from international investors, as the company continues to broaden its investment focus, and Peak Rock Capital is seeking to raise $1.3 billion for its third fund

Further in new launches, Sylvio Castro, the former chief investment officer at Credit Suisse Group AG's private banking unit in Brazil, will launch his own hedge fund firm after leaving the Swiss lender earlier this year, according to people familiar with the discussions; CIVC Partners is seeking to raise $525 million for its sixth fund, according to an SEC filing. The Chicago-based private equity firm invests in the middle market, while One Rock Capital, a private equity firm focused on middle-market businesses, has raised up to $1.7bn for its third fund

Lyxor said that hedge funds were down -1% last week as market conditions took a turn for the worse. This brought the monthly performance of the Global Lyxor Peer Group in October to -0.5% (vs. -3.0% for the MSCI World). Strategies with a higher market beta such as Special Situations and Directional L/S Equity underperformed (-0.8% and -0.6% respectively in October), while CTAs and Market Neutral L/S also ......................

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