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 $3.9 billion.

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 industry total.

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...

ISSN: 2151-1845 / CDC10004H

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