New Managers September 2015

NEW LAUNCHES: New launches from emerging hedge fund managers

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Former BlueBay fund managers Neil Phillips and Jonathan Fayman are preparing to launch a global macro hedge fund in 2016, a source told Reuters. They are setting up Glen Point Capital in London.

Edward Eisler, who left Goldman in 2012, is starting a macro hedge fund that places bets on how economic and political events will affect bonds, currencies and other securities. His new firm, called Eisler Capital and based in London, has drawn its money – nearly $1bn – from a handful of money managers, reported WSJ.com.

Lawyer and former state legislative candidate Chart Westcott is teaming up with Dr. Neil Shahrestani to open Dallas hedge fund Ikarian Capital. Shahrestani, a medical doctor, will provide industry knowledge for Ikarian, which will focus on therapeutics and biotechnology companies, said Bizjournals. Hedge fund launches, liquidations fall in 1H 2015

Both new hedge fund launches and liquidations declined through mid-year 2015 as financial market volatility increased and HFRI performance topped equity markets through 1H15. New hedge fund launches totaled 252 in 2Q15, a narrow decline from 264 in the prior quarter, but a slight YoY increase over the 2Q14 launch total of 240 new funds, according to the latest HFR Market Microstructure Report, released by HFR®.

With a total of 516 funds launched in 1H15, the number of new launches is on pace for its lowest level since 2010. As previously reported by HFR, total global hedge fund capital increased to a record $2.97 trillion through mid-year 2015.

Hedge fund liquidations also fell in 2Q15, dropping to an estimated 200 fund closures, a decline f......................

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