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In the week ending September 22nd 2023, Financial Times reported that hedge funds are piling into the oil market betting that prices will soon pass $100 a barrel, adding impetus to a rally sparked by production and export cuts from Saudi Arabia and Russia. Riyadh's extension until December of a 1mn barrel a day oil cut, in addition to further cuts under its Opec+ target, has compounded Moscow's move to limit exports and pushed prices for Brent crude, the international oil benchmark, to $95 a barrel this week, a fresh high for the year.

In new launches, Kurt Baker, a Millennium Management alumnus and former head of Morgan Stanley's Asia prime brokerage, is seeking nearly $3 billion in capital commitments for a multi-manager hedge fund firm to rival the likes of Citadel in the region, according to a person with knowledge of the matter; Martin Beck's Astaris Capital Management is seeking about $300 million in a closed-end hedge fund with initial backing of Blackstone Inc, and Japan's largest investment bank, Nomura's digital asset subsidiary Laser Digital Asset Management, has launched a Bitcoin Adoption Fund for institutional investors.

Meanwhile, the crypto bear market may be ongoing, but Blockchain Capital is still going big. It closed two new funds for a total of $580 million, the firm's general partner Spencer Bogart told TechCrunch; Former US President Bill Clinton is teaming with Israeli billionaire Ziv Aviram to launch a climate fund with about $1 billion of start-up capital, and global asset manager Goldman Sachs' asset management unit raised more than $14bn for its largest-ever flagship secondaries fund (Vintage IX) and over $1bn for its debut fund (Vintage Infrastructure Partners) focused on secondary deals in the infrastructure sector.

Further in new launches, Amundi, the largest European asset man......................

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