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Alternative Market Briefing

Opalesque Roundup: Hedge funds shine with strong performance: hedge fund news, week 02

Monday, January 11, 2021

In the week ending January 8th 2021, in performance news, Emerging manager Breacher Capital Management ended 2020 on a high note - according to performance information for investors reviewed by Opalesque, the BCM Partners fund ended 2020 up 58.19%. The other two BCM strategies - the Enhanced and Core funds were up 36.85% and 12.00%, respectively. Pierre Andurand's Discretionary Enhanced Fund, a vehicle he started in 2019 that has no set risk limits, surged 154%, and Bill Ackman's Pershing Square Capital Management reported a second straight record performance in 2020, as a bet in the early days of the pandemic helped the fund return 70% on investments.

Meanwhile, the top performer at billionaire Alan Howard's firm last year was the U.S. Rates Opportunities Fund, which soared nearly 99%; D.E. Shaw's largest hedge fund gained 19.4% after fees last year, almost doubling its returns from the previous year during a period of wild and unexpected business conditions; Dan Loeb's Third Point Offshore capped a strong fourth quarter with a 7.2 percent gain in December- As a result, the multistrategy fund finished the year with a double-digit gain, a stark turnaround from the fund's punishing first quarter. Third Point Offshore gained 20.6 percent in 2020, and Ovata Capital, the multi-strategy hedge fund set up by former BlueCrest t......................

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