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

Last week, we heard of fund launches or possible launches from Ambit (ABL); Tactical Global (global equity + Shariah version); Levenstein Vaceva (auto-loan); Aquila (Ucits III CTA); Laven Parners/John Locke (CTA); Gramercy (hybrid); Gladius (volatility); Nomura (Asia); Salus Alpha (HF index); IndexIQ (ETF replicating HFs); CQS (credit L/S); CURA (statistical arb); and Finles (global macro). Man Group launched a new integrated management business which will provide more transparent FoHFs; and an ex-Quantek manager started Clifftop Capital which will run LatAm funds.

We heard of fund or shop closures from Chimay; Mezzacappa; Kraus Partners; Investcorp; Centaur; and Archery Capital. Signet, Corazon, Deutsche, GT Alpha, and Natixis may be hit by last week’s collapse of a Weavering fund.

On the M&A and JV scene, Credit Suisse Asset Management (CSAM) was said to be planning a joint venture with Sloane Robinson this year and the launch of a distribution network for third-party funds; P. Schoenfeld A.M. was in talks to buy three hedge funds; and London’s Ilex A.M.’s fixed income team and credit fund was acquired by Liontrust.

Madoff-stung UBP was said to be regrouping, strengthening its risk management, and moving capital to cash, gold, bond; Deutsche Bank published its 7th annual alternative investment survey which found that hedge funds assets were expected to fall 11% and returns to be +5-10% in 2009; Morningstar ratings reported that 36% of rated hedge funds had disappeared a year after the ratings’ launch......................

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