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In the week ending September 20th 2024, a study by law firm Seward & Kissel established managers of traditional hedge fund strategies continue to charge high management fees, compared to managers with bespoke strategies. As for the incentive fee, three-quarters of those managing traditional strategies charge one while none of the bespoke strategy managers do. The 2023 Seward & Kissel Established Manager Hedge Fund Study focuses on those clients who have been in business for at least five years and manage more than $1bn in regulatory assets under management (AUM).

In new launches, Britney Lam, head of long-short equities at the Dubai-based Magellan Capital Holdings, discusses the launch of a $700 million multi-strategy hedge fund set to be one of the largest debuts in the United Arab Emirates; BlackRock, Microsoft and United Arab Emirates state-backed investor MGX are partnering on a new artificial-intelligence infrastructure fund that aims to raise $30 billion to invest in data centers and related power infrastructure, and Global alternatives asset manager Intermediate Capital Group (ICG) has raised $17bn (€15.2bn) for the fifth vintage of its Senior Debt Partners (SDP) fund at the final close.

Meanwhile, New Catalyst Strategic Partners is on the road with its debut fund dedicated to investing in up-and-coming private fund managers, after launching in January with the backing of Apollo Global Management; Crypto venture capital firm Dragonfly Capital is seeking to raise $500 million for its fourth fund, which will invest in early-stage projects, according to a person with knowledge of the matter; Borderless Capital, a Web3 investment manager, announced the launch of its third DePIN-focused fund, a $100 millio......................

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