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Alternative Market Briefing Weekly

Opalesque Roundup: Hedge fund redemptions accelerate dramatically in March while new launches crater: hedge fund news, week 15

Saturday, April 27, 2019

In the week ending April 26th 2019, eVestment reported that hedge fund redemptions continued despite a strong start to the year, which saw Q1 2019 average hedge fund performance hit +5.34%. In aggregate, investors pulled $14.9bn from hedge funds in the first quarter of 2019 with $13.7bn being redeemed in March alone, making Q1 the fourth consecutive quarter of outflows. However hedge fund performance more than offset investor redemptions, leaving overall hedge fund industry assets under management (AUM) at $3.258tn while robust capital markets recovery brings net total UCITS assets over the EUR16tn mark in February 2019.

At the same time, just 69 hedge funds were launched in the same quarter, the majority (84%) of which were single-manager funds, according to research house Preqin. This puts new hedge fund launches are at their lowest levels; funds big and small are struggling and have to get creative to raise money.

Further in new launches, Arsenal Capital Partners, a midmarket buy-out firm, said it has wrapped up its latest fund - Arsenal Capital Fund V - with $2.36bn of committed capital; Cerberus Capital Management closed its Cerberus Global Fund, a global real asset non-performing loan (NPL) fund, at $4.1bn, exceeding its $3.5bn fundraising target; WNG Capital has announced the final closing of WNG Aircraft Opportunities Fund II with $......................

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