New Funds: Consolidation drives first half

Wed Oct 29, 2008

The first half of 2008 saw 83 fund launches with a minimum of $50 million in capital, a number that fell well short of the 136 launches recorded in the same period in 2007.

At $30.37 billion, however, the value of assets slightly exceeded last year’s first half, when $30.13 billion was raised. This reflects an important trend in the hedge fund industry, in which assets are increasingly being concentrated in fewer hands. At the same time, the dramatically deteriorating financial environment has compelled many aspiring managers to delay their launch until market conditions improve.

Our table of the top 20 hedge fund launches accounts for $23.95 billion, or 79%, of the grand total, while the top 10 launches on this list have raised two-thirds of the capital, or $19.92 billion. A handful of megalaunches by the top five players – Goldman Sachs, Brevan Howard, Conatus Capital...

ISSN: 2151-1845 / CDC10004H

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