Hedge Funds

Gartmore adds to AlphaGen range

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Gartmore Group recently launched its first healthcare hedge fund. The firm, which over the past few years has grown its hedge fund business to $3.5 billion, has added to its AlphaGen menu a long/short strategy dubbed AlphaGen Arneb Fund. The fund is managed by Paul Cluskey out of Gartmore's San Diego, California office. AlphaGen Arneb manages $20 million in assets and has a capacity of $350 million. It focuses on healthcare, including biotech, HMOs, medical devices and hospitals.

Mellon HBV closes distressed fund

Mellon HBV Alternative Strategies is closing its distressed hedge fund strategy to new investors. At the