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.

They're back.

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 billion. 1

   2012 New Funds Ranking

Prime Broker Market Share
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

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