Saturday, 20 December 2014
Last updated 19 hours ago
Feb 6 2009 | 12:02am ET
New hedge funds raised significantly less last year than in 2007, as hedge funds suffered their worst-ever year of performance, according to a new survey.
The Absolute Return magazine new funds survey for 2008 revealed that the largest new fund launches in the U.S. amassed a combined $23.17 billion under management in contrast to the $31.5 billion for the largest new funds in 2007 and $31 billion in 2006.
Only 35 new funds launched with more than $50 million in the first half of last year, totaling a combined $19.5 billion. Of that amount, however, $8.1 billion came from two new funds introduced by Goldman Sachs. The remaining $11.4 billion accumulated through June 2008 was well below the $14 billion held by the 72 funds that formed during the first half of 2007. The number of new vehicles was also down in 2008, with only 55 funds managing launches that amassed $50 million by year end, compared with 81 such funds in 2007.
Six funds raised more than $1 billion, compared with eight in 2007. The group included Appaloosa Management’s Thoroughbred Fund with $1.9 billion, Lone Pine Capital’s Lone Dragon emerging markets fund with $1.8 billion and Highliner Investment Group’s $1 billion market-neutral equity Alyeska fund.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.