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In the week ending April 28th 2023, Barclay Fund Flow Indicator said that after gulping fresh lungfuls of air in January, many hedge fund managers found themselves pushed underwater again in February by the boots of exiting limited partners. Hedge fund investors extracted -$11.58 billion during the month, causing a -0.23% contraction of industry assets. An aggregate -$59.87 billion trading loss in February tamped down total industry assets to $4.99 trillion as the month ended. The biggest new hedge funds are raising more money, at levels not seen since before the pandemic, and the 2024 crop could include one of the largest startups in years - at least four new firms are poised to eclipse $1 billion by year-end, collectively bringing in at least $6.5 billion from investors Meanwhile, Asia hedge fund startups raised only $3.5 billion last year - the lowest amount since the global financial crisis, industry data showed, with activity in Hong Kong hit hard by COVID restrictions and heightened geopolitical risks. In new launches, Genstar Capital announced the first and final close of its latest fund, Genstar Capital Partners XI, at its $12.6 billion hard cap; Global alternative asset management firm TPG Global has announced the final close of its second tech-focused fund at $3.4 billion, and global alternative investment manager Ares Management Corp. started a roughly $1.5 billion credit fund for high-net-worth individuals that will invest in secured loans to US middle-market companies. In the meantime, Greycroft, ...................... To view our full article Click here |
Alternative Market Briefing Weekly
Saturday, April 29, 2023
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