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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 the alternative investments world.

Last week, we heard of new launches from Browndorf PEM, Blackpool Capital, GCA, van Biema Value Partners, Heriot, Cooper Creek, Standard Life, Agamas, Citi Quilter, Corazon, Star Hedge Managers, Lincoln Vale, Natixis, Taylor A. M., Riptide Capital, Marble Gate, Coraticum and Jubilee Financial. Hong Kong-based Blackstone A.M.N. Advisors delayed the start of its first fund.

Investors at RAB Capital, which hedge funds lost a further $500m, approved a restructuring plan involving a new 3-year lock-up. Hedge funds Camels Capital, Ore Hill trimmed their fees to keep investors.

MKM Longboat liquidated its $1.5bn flagship hedge fund; redemption requests forced the closure of the Forsyth sub funds; Absolute Capital Management shut its activist fund; Gottex unwounded its ABL Fund of Funds; Laurus Capital shut its $800m PIPE portfolio after heavy redemptions; Toronto-based Salida Capital Corp halted redemptions on three of its funds after the bankruptcy of Lehmans. Asia hedge-fund closures jumped 19% this year, with the industry set to shrink for the first time as clients withdrew more money due to underperformance.

The FT reported that hedge funds were facing their worst year since 1990, and an industry expert said that every week at least one British hedge fund was considering winding up its funds catastrophic performance. Big hedge funds such asThird Point, Maverick, Citadel, Greenlight and The Children's Investment Fund suffered big losses in September.

Hedge funds were otherwise still struggling with grave problems last week, related to the short-selling bans, the looming quarterly redemptions, rising volatility, credit squeeze and the failed prime brokera......................

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