Sunday, 29 March 2015
Last updated 1 day ago
Feb 3 2010 | 2:32pm ET
Last year was a very good one for the hedge fund industry. It was less kind to hedge fund startups.
New hedge funds raised 36% less in 2009 than they did in 2008, as shell-shocked investors shied away from the asset class after taking a beating in 2008. All told, startups raised $15 billion last year, according to an AR magazine survey.
“There is still a reluctance of investors to part with their money,” Michaelle Celarier of AR said. “Moreover, the big issues of 2008—transparency and liquidity—continue to be major challenges for new funds.
There was not much drop off in new hedge funds with at least $50 million in initial assets, according to AR. Fifty-three debuted last year against 55 in 2008. The big decline came among the biggest funds, as only two new hedge funds launched with more than $1 billion. In 2008, there were five such funds.
Those two funds were Woodbine Capital Advisors and Roc Capital Management. The former, founded by Soros Fund Management veterans Joshua Berkowitz and Marcel Kasumovich, raised $2.5 billion. Roc, the brainchild of former Deutsche Bank global arbitrage trader Arvind Raghunathan, netted $1 billion.
10 Largest Hedge Fund Startups of 2009
|Startup||Assets on Dec. 31||Month Launched||Strategy|
|Woodbine Capital Advisors||$2.5 billion||January||global macro|
|Roc Capital Management||$1 billion||August||equity market-neutral|
|Pia Capital Management||$949 million||June||global macro|
|LDH Energy||$750 million (estimated)||September||commodities|
|Realm Partners||$650 million||July||multi-strategy/event-driven|
|Harbinger Capital Partners Credit Distressed Blue Line Fund||$620 million||April||credit|
|Saba Capital Management||$560 million||August||credit|
|Plural Investments||$550 million||January||long/short equity|
|Brevan Howard Asset Management Credit Catalyst||$517 million||June||credit|
|Manatuck Hill Partners||$400 million||JUly||long/short equity|
source: AR magazine
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…