New funds taste pre-crisis highs
By Rob Copeland
Thu Feb 7, 2013
Some 71 new Americas hedge funds managed $24.9 billion by yearend, the richest total since 2007.
Some 71 new hedge funds launched in 2012 and managed $24.9
billion by the end of the year, the
highest total since 2007, when 81 launches amassed $31
Two new firms--Falcon Edge Capital and Slate Path
Capital--started with more than $1 billion--up from
just one firm last year, and Encompass Capital Partners
came close to being the third over the barrier with $900
million, a source said. Peak6 Advisors' Achievement Fund shot
to $700 million and has firm commitments that will take it to
more than $1 billion in the coming months.
Other particularly strong new enterprises included former
PointState Capital portfolio manager Vikas Shilpiekandula's
Sovarnum Capital Partners ($680 million), former King Street
head trader Kieran Goodwin's Panning Capital Management ($640
million) and long-time Bridger Capital analyst Joel Ramin's 12
West Capital Management ($500 million)....
ISSN: 2151-1845 / CDC10004H
TAKE A FREE TRIAL
The full contents of this article are available to Absolute Return subscribers and trialists only.
To continue reading please, take a free trial, subscribe or log in.
Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.