Wednesday, 1 October 2014
Last updated 46 min ago
Aug 16 2012 | 4:06am ET
New hedge funds raised about the same in the first half of 2012 as they did during the first six months of last year—thanks almost entirely to Renaissance Technologies’ first new offering in five years.
All told, newly-launched hedge funds took in $10.4 billion in the first half, Absolute Return magazine reports. That’s slightly better than the $10.3 billion new funds garnered in the first half of 2011.
But about half of this year’s total went to a single fund, RenTech’s new Diversified Alpha Fund. Investors could not get enough of the first new RenTech fund since founder James Simons stepped away from day-to-day management of the East Setauket, N.Y.-based firm: It launched in March with $3.5 billion and topped $5 billion by the end of the half.
By contrast, the second-largest launch of the year was Encompass Capital, led by Citadel Investment Group veteran Todd Kantor, which gathered a little less than $1 billion. Arbalet Capital, founded by former Arrowhawk Capital Partners trader Jennifer Fan in January, netted $650 million.
One might have expected the flood of big names to come to market this year to have raised more than they actually have. Former FrontPoint Partners star trader Steven Eisman’s Emrys Partners launched with $22.9 million in March and now manages just over $50 million, a far cry from the $1 billion he managed at FrontPoint. And other new hedge funds launched by veterans of Barclays, Citadel and Goldman Sachs have failed to attract much beyond their initial seed investments, AR reports.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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