Launches & Closures

New Hope for New Funds

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New American hedge funds garnered $17.40 billion in 2010—a 17% gain over the previous year.

After a long dry spell, fund launches are finally springing up again.

New American hedge funds that started in 2010 and ended the year with at least $50 million pulled in a combined $17.40 billion, a 17% jump over the amount new funds garnered in 2009. At least 59 new hedge funds managing a minimum of $50 million in assets began trading in 2010, compared with 53 the previous year.

Still, 2010’s total is well shy of the $23.17 billion reached in 2008 and less than half of the record $40 billion amassed