Given the turmoil in global markets last year, it is not surprising that the number of new launches and the assets they raised were both sharply down in 2008 in all the major hedge fund markets.
The number of new funds of $50 million or more reached 149 last year, raising combined total assets of $40.2 billion. This compares with 273 launches of that size in 2007, which together raised $69.2 billion. The comparative figures for 2006 had been almost as high – 265 launches with combined assets of nearly $68 billion.
In the US, there were only 56 new funds started last year that raised $50 million or more – down from 81 new funds of that size or more in 2007. Together they raised a collective $23 billion, down from over $31 billion the previous year. And this total was dramatically boosted by one big launch...