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Alternative Market Briefing Weekly

Opalesque Roundup: New hedge fund launches hit an 18-year low in 2018: hedge fund news, week 12

Saturday, March 30, 2019

New hedge fund launches hit an 18-year low during 2018. The fund liquidations declined during 2018, hitting their lowest point since 2007. An estimated 561 hedge funds launched for the full year 2018, representing the lowest launch total since 2000. 4Q18 represents the second consecutive quarter in which liquidations exceeded launches, reversing a four-quarter trend of net growth in the number of funds, it said. Fund liquidations rose in 4Q18 to an estimated 215, the highest level since 2Q17, when 222 funds closed.

Despite the uptick of liquidations at year-end, the total number of fund closures declined in 2018, as 659 funds liquidated for the year, representing a decline of 125 from the 784 funds that closed in 2017. The calendar year liquidation total also represents the lowest closure total since an estimated 563 funds closed in 2007.

In new launches, Izzy Englander's Millennium Management has raised $3.7 billion for a new five-year share class of the firm's flagship hedge fund; Proxy P Management AB recently launched three long/short equity funds to complement its suite of long-only products; Therium Capital Management, a Channel Islands-based litigation funder, has launched a new $430m fund, bringing the total value of its institutional investments to over $1bn and ypur Ventures launched $500m cannabis fund.

Further in new launches, UK-based investment firm Maven Capital Partners has closed its first ever buyout fund raised fro......................

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