Launches & Closures

New funds meltdown


Assets garnered by new funds declined 36% to $14.89 billion in 2009 -- the worst showing in years.

Charts (click to enlarge)

By Katrina Dean Allen

Starting a hedge fund in 2009 was no easy feat, especially for the handful of those forced to relaunch after the trauma of 2008. A couple of the high-profile new funds marketed in 2009 came from well-established hedge fund firms that only recently shuttered their biggest funds. Many closed due to poor performance, heavy redemptions or simply falling so far below their high-water marks that managers had no incentive to continue running their funds. Dwight Anderson’s Ospraie Management,