Fri, Mar 29, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
New Managers December 2013

LAUNCHES & NEW FUNDS: Recent maiden fund launches

 

In late November, Asian Investor reported that according to Preqin, a data provider, Asian accounts for 13% of the 604 new hedge fund launches globally this year.North America makes up the majority of new fund launches (70%), with Europe second at 16%. The global total for 2013 is set to be the lowest number in a decade, following last year's 966 launches and 1,067 in 2011.

Asian launches may be a minority, but global banks and asset managers are opening hedge funds in Asia for the first time since the 2008 financial crisis, putting pressure on smaller firms that are already struggling to hold onto investors, said Bloomberg, which cites Goldman Sachs, UBS and GLG Partners, Highbridge Capital and Pine River Capital. We recently heard of those ex-hedge funders striking out on their own:

1. Doug Gordon, Jon Hilsabeck and Don Jabro, former money managers at Vinik Asset Management LP, have opened their own investment startup after the hedgefund firm run by Jeffrey Vinik shut earlier this year, according to Bloomberg. Shellback Capital LP, which will bet on and against U.S. stocks, is based in Boston and will start trading in January.

2. Naoki Iwami, a former managing director at Millennium Capital Management in Tokyo, expects to raise about $150 million by the end of March for his hedge fund that invests in bonds and currencies, said BusinessWeek. Tokyo-based Whiz Partners Inc. runs the Whiz Rock Global Macro Investment Fund, which has about $50 million and has returned about 1% since inc......................

To view our full article please login

This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
New Managers
New Managers
New Managers

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1