Thursday, 28 August 2014
Last updated 28 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...