More launches planned this year

According to Preqin's survey of over 270 hedge fund managers for the 2017 Preqin Global Hedge Fund Report, 37% of respondents plan to bring a fund to market in 2017, a significantincrease from the 29% that were planning on launching a new fund in 2016. Furthermore, over a quarter of respondents planning to launch a fund in2017 will be launching a strategy that isnew to their firm, thereby increasing theirrange of solutions available to investors. Titan Opportunities fund returns 46% in first nine months

Titan Opportunities Fund, set up by Espen Westeren and Fredrik Halvorsen, has returned 46% in its first nine months by snapping up distressed and shunned oil-related assets. Now, they want to step up their bets by raising as much as $175m. The goal: double or even triple the money in the next three to five years, with an annual return of at least 30%, before returning it to investors.

"The opportunity is now," Westeren, the fund's chief investment officer, said in a phone with Bloomberg. "We've had an almost unprecedented down-cycle, which has been very brutal. We believe we will see an upturn that will last a few years." Jens-Peter Stein to invest in Ben Melkman's Light Sky Macro

Jens-Peter Stein, cofounder of multi-billion hedge fund Stone Milliner Asset Management, is planning to make a small investment in Ben Melkman's Light Sky Macro, a new New York-based firm, according to Business Insider. Stein previously worked at macro manager Moore Capital Management, whose founder, Louis Bacon, is also pla......................

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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.