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In the week ending July 10th 2020, Hedge Fund Research Inc said that hedge funds advanced in June for the third consecutive month, concluding a volatile 1H20 defined by a steep 1Q global equity market decline driven by the global coronavirus pandemic followed by a mixed 2Q recovery despite ongoing virus concerns and challenges.

However, hedge funds in aggregate lost a record 7.9% in the first half of the year on an asset-weighted basis. None of the four major strategies made money as the industry struggled to trade with the Covid-19 pandemic convulsing global markets. Event-driven funds were the worst performers, losing 9.6%. Relative-value funds posted the smallest decline, at 5.1%. The losses for the period were the steepest ever in data going back to 2008.

Lyxor Peer Groups suggest hedge fund performance was up +0.6% in June, with CTAs underperforming (-1%) and Directional L/S Equity, L/S Credit and Special Situation strategies outperforming (+1.2% to +1.5%).

In new launches, the global real estate investment manager, Patrizia AG announced the final close of its seventh flagship trans-European real estate fund, Trans-European VII LP (TEP VII), at its hard cap, with EUR 750mn (USD 849mn), of total equity commitments; Private equity firm Charlesbank Capital Partners smashed its $500m target by raising $700m for its Credit Opportunities Fund II (COF II), and Blackstone Group closed its inaugural life s......................

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