Despite widespread griping from hedge fund managers
regarding the difficulty of fundraising in 2005, the largest
funds launched last year accumulated $33 billion in assets.
Though dropping off from 2004's historically high intake, last
year's 73 largest launches still managed to raise only $7
billion less than the $40 billion taken in by the 81 largest
funds launched in 2004. Last year's funds also exceeded handily
the $21.8 billion raised by the 73 biggest startups of
The year 2005 was difficult, especially given the
fundraising success achieved in the first half, as 43 funds
greater than $50 million raised nearly $15 billion, exceeding
the $10 billion raised in the first half of 2004 (for which we
counted all funds with assets of $25 million and greater).
Funds that launched in the first half, and that went on to
raise $50 million or more, took in a total of...