New Hedge Fund Firms Still Abound In U.K.

Feb 3 2010 | 7:35pm ET

Despite fundraising difficulties and an uncertain regulatory environment, there’s no shortage of new hedge funds looking to come on line in London.

The British Financial Services Authority gave the green light to more new hedge fund firms than almost any other type of financial advisory or trading firm in the fourth quarter, according to consultancy IMAS. The FSA authorized 60 hedge fund managers during the last three months of the year; only general fund management companies won more approvals, with 72.

All told, the FSA authorized less than 200 companies in the fourth quarter of last year. In particular, shyness struck those mulling new private equity firms, with the number of applications from the sector falling tremendously during the second half.

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