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By Benedicte Gravrand, Opalesque London: A roundup of last week’s hedge fund launches, closures, trends, and regulatory and legal events pertaining the alternative investments world.

Kurtosis (started up by famous ex-LTCM manager and quantum physicist David Ko and colleague Stephen Cain), Outpost, Seager, Matrix, GoldenTree, Hilltop Park, Select Equity Group, Pioneer, Cohen & Steers, Danske Capital, MKM, Gartmore, Secquaero, Fusion, Ladder Capital, BlueBay, Anil Babbar, Copernico and Gressel Advisors announced launches of new funds.

Conquest shut down its KCM Agricultural Commodities Plus Fund following its only investor’s redemption. Insana was said to plan closing Insana Capital Partners LP and join SAC Capital Advisors as a managing director. London’s Park Place Capital postponed the launch of its SRI L/S fund. And the distressed debt hedge fund Turnberry told of plans to liquidate and give money back.

We received more HF index results last week (from Eurekahedge, HFRX, HFN, CASAM CISDM, RBC, Morningstar), none of them of the triumphant kind, but still holding the fort when compared to other broader indices. The negative results reinforced the general belief that now is the time of revelation: the weaker HFs would not survive the current cycle. It was also noted that recent losses could lead to style drift.

PerTrac reported that small hedge funds had outperformed larger funds in 2007 and the fund platform PCE decided to veer away from its hedge fund roots as it was seeing smarter PE funds. In the limelight were Carl Icahn and Boone Pickens whose hedge funds were reported to be suffering set-backs. Also Sir Ronald Cohen hinted at more future stake buying in hedge funds.

New York State Common Retirement Fund, Skandia UK, Montana retirement fund, a German church employee pension fund, Fresno County (Calif.) Employees Retirement Associ......................

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