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In the week ending June 28th 2023, the new data from asset servicer Citco revealed that hedge funds saw an overall weighted average return of 2.77% in Q2, taking YTD average weighted returns to 8.04%. Hedge funds have now had three consecutive quarters of gains, going back to Q4 2022, Citco data shows. Almost 70% of all funds delivered positive performance in the latest three-month period. Equities and multi-strategy funds were the best performers in the second quarter, with weighted average returns of 4.52% and 2.54% respectively, taking their YTD returns to 10.34% and 10.14%.

In new launches, global private asset growth investor Bridgepoint announced the successful completion of fundraising for its third direct lending fund, Bridgepoint Direct Lending III (BDL III), with more than €3.4 billion ($3.8bn) of investable capital; Global institutional investment management firm Davidson Kempner Capital Management closed its sixth opportunistic/special situations fund at $3 billion, and NB Capital Solutions, a unit of Neuberger Berman that finances companies owned by private equity firms raised about $2.5 billion for NB Credit Opportunities Fund II, around $1 billion more than its initial target.

Meanwhile, Comvest Partners, a private investment firm that provides equity and debt capital to lower middle-market companies, announced that its direct lending platform Comvest Credit Partners has completed the final close of the sixth vintage of its flagship ......................

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