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Alternative Market Briefing Weekly

Opalesque Roundup: Ackman's 51.3% net YTD return proves there's hope for hedge funds: hedge fund news, week 46

Sunday, December 08, 2019

A report in the week ending December 6th 2019, said that with gains in November, Bill Ackman's hedge fund Pershing Square Capital Management is on track to land massive returns. It posted a 3.4% gross gain for November, or 3.2% after fees. The month's performance brought its year-to-date return to 51.3% after fees. Should Pershing Square's 2019 surge continue through December, Ackman's fund will post its first year of positive net returns since 2014.

Meanwhile, the average performance fee charged by hedge funds fell 11% between the end of 2018 and October. As of Oct. 31, the average performance fee was estimated at 13.3%, down from 15% at the start of the year, while the average management fee fell to 1.16% from 1.24% over the same time period.

In new launches, New York-based private-equity firm Dyal Capital Partners, a division of Neuberger Berman, closed its latest fund on more than $9 billion; Asia's largest warehouse developer Global Logistic Properties (GLP) has launched a new $2.1bn Chinese logistics fund focusing on stabilised, income-generating properties, as the firm continues to recycle capital in the country, and Multiples Alternate Asset Management, the only home-grown in India, woman-led private equity fund, announced the first close of its third and latest fund at $800 million.

Further in new launches, BID Equity has held a final close for BID Private Equity II on its hard-cap of €125m ($138m), exceeding its target of €100m; US-based venture capital (VC) firm Accel Partners has raised $550 million for its sixth India fund as it seeks to ramp up its investments in the country's booming startup ecosystem; Long Harbour has launched a €400m ($443m) fund to invest in European residential and commercial rea......................

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