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In the week ending May 8th 2020, HFR reported that hedge funds jumped about 4% in April, the strongest monthly gain in more than a decade. For the year, the industry is still down 7.4% on an asset-weighted basis, the HFR data show. The HFRI Fund Weighted Composite Index (FWC) jumped +4.8 percent for the month, with gains led by Equity Hedge, Event-Driven, Energy/Basic Materials, and Activist strategies, as reported today by HFR.

In new launches, Investcorp Holdings has reached the first fundraising close on its debut $750 million fund to buy stakes in alternative asset managers such as private equity and real estate investment firms; Tom Conheeney, a former executive at Point72's predecessor SAC Capital, is launching his own hedge fund, EmeraldRidge Advisors, in the first quarter of 2021, and Morgan Stanley Investment Management (MSIM)'s private markets arm, Alternative Investment Partners Private Markets, has closed a new fund at $110m focused on addressing critical climate issues.

Meanwhile, venture capital firm Runa Capital revealed today that it has raised $157 million for its Runa Capital Fund III, oversubscribed by $22 million over its initial goal of $135 million; Italian private equity firm Star Capital has closed its fourth buyout fund, Star IV Private Equity Fund, on its €140m hard-cap, exceeding the initial €120m target, and Oberland Capital Management announced the closing of the Oberland Capital Healthcare Solutions Fund and affiliated funds, with $1.05 billion of capital commitments at the Fund's hard cap.

In performance news, funds, as varied as big quants like Renaissance Technologies and credit funds like BlackRock's Obsidian and traditional equity shop's like Lee......................

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