Pedigree holds no guarantee for new funds
By Rob Copeland
Tue Aug 14, 2012
Some 34 Americas hedge funds raised $11 billion in the first half, but most of the money was clustered in a handful of managers.
||Arbalet's Jennifer Fan raised
It is a tale of haves and have-nots.
At first glance, the environment for new hedge fund launches
in the Americas appears robust. Some 34 new funds raised $11
billion in the first half of the year, eking past last
year’s total of $10.3 billion1.
As was the case last summer, one mega-launch comprised
nearly half of the total, suggesting strong appetite for the
right manager at the right time. That equity-focused
multistrategy fund, the Renaissance Diversified Alpha Fund
headed by Peter Brown and Robert Mercer, burst out of the gate
with $3.5 billion in March and has since blown past $5 billion,
helped by strong firmwide returns and performance/management
fees of half the industry norm (see full details
Second place went to Citadel spinoff Encompass Capital, the
energy equities fund helmed by Todd Kantor, which
ISSN: 2151-1845 / CDC10004H
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