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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.

We heard of new launches from Trump Organization USA, Dalton, Integral, Quilvest, Penso, Nau Capital, Macquarie, Advent, DragonBack and Millennium Group. And of new seeding from Accelerator Capital (in Epic Capital and Burlington Capital) and from SkyBridge Capital (Outpost Investment).

There were almost as many closures. Aperta Asset Management closed down its long/short Japanese equity fund due to redemptions; hedge fund SageCrest Finance filed for bankruptcy, battered by losses in the debt markets and lawsuits; Andor Capital shut down as co-founder Daniel Benton left to retire; Sumitomo announced the liquidation of its FoHFs advisory platform Sumisho Capital, to streamline operations; Fortis shut its convertible arbitrage fund due to ongoing market dislocation; and Sage A.M. closed 2 of its 3 hedge funds due to negative performance.

Credit Suisse/Tremont, Canadian Hedge Watch, EDHEC, HFRI, Scotia Capital, Nordic HedgeIndex posted negative index results for July.

As many more funds have been actively looking to raise new cash lately, HFN reported that total hedge fund assets were up 4.41% in Q2-2008, to $2.973 trillion. And data from Morningstar showed that individual hedge funds had net inflows of $10.7 billion in June, while FoHFs suffered $9.2 billion in net outflows.

Total assets handled by fund managers in Singapore grew 32% to $1.17 trillion last year, bolstered by a doubling in assets held by hedge funds. HFR also reported that emerging market hedge funds saw inflows approaching $1 billion in Q2.

Trends - there were still debates on energy and financial trading (should one go long / short or short / long?). It was noted that private equity was beating shy hedgies to distressed assets and that investment ou......................

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