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Alternative Market Briefing Weekly

Opalesque Roundup: Hedge fund launches fall again with just 59 funds in Q2 2020: hedge fund news, week 31

Saturday, August 01, 2020

In the week ending July 31st 2020, a report by Preqin said that only 59 new hedge funds were launched in the second quarter, down from 182 in the first quarter of the year and 228 in the second quarter of last year. Hedge funds returned 11.48% in Q2 2020, the highest gains since 2009, following losses of 10.63% in Q1, said Preqin. Hedge funds have broken even for H1 2020, with YTD returns hitting -0.37% as of the end of June.

Investors redeemed an estimated $16.9 billion from hedge funds in June - the outflow puts Q2 redemptions now at $42.4 billion, and YTD redemptions at $55.4 billion. However, performance lifted total industry AUM to $3.06 trillion.

Meanwhile, active investment managers across a variety of asset classes and investment universes rebounded from Q1 losses in Q2 2020 - as global markets bounced back, many strategies racked up returns not seen in years despite an economic environment still full of more questions than answers due to the COVID-19 pandemic, said eVestment.

In new launches, Steve Cohen's Point72 Asset Management told clients it will close to new investments next month, after raising $10 billion since it started managing outside capital less than three years ago; Europe-based infrastructure investment firm Antin Infrastructure Partners has wrapped up its fourth fund at its €6.5 billion ($7.63 billion) hard cap, and Kayne Anderson Capital Advisors, L.P., an alternative asset management firm with over $30 billion under management, has ......................

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