Absent mega launches, new funds fall short in first half
By Rob Copeland
Tue Aug 6, 2013
Ex-J.P. Morgan, Icahn, Redwood, Soros managers lead midyear new funds ranking.
Just six months after
the best year of fundraising since before the financial
crisis, the new launch environment in the Americas has chilled,
with 43 managers raising a mere $8.2 billion in the first half
of the year.1
That's the second-lowest first half tally in the decade that
Absolute Return has been tracking new launches,
exceeding only the
first half of 2009 during the capital crunch that
accompanied the worst of the downturn, when 21 funds raised
This year's first half is $2.8 billion below
last year's H1 total, though that previous figure was
boosted substantially by one mega-launch from Renaissance
Technologies, which raised $5 billion of the $11 billion
This year boasts only one billion-dollar launch: Peter
Muller's $1.5 billion PDT Partners quantitative strategy. In
second place, Passport Capital raised $560 million for its new
long/short fund, run by firm...
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