And European and Asian launches are left trailing behind
Lackluster performance and industry consolidation did nothing to deter investors from heaping large amounts of capital into new funds last year, with huge sums flowing into the largest U.S. start-ups. According to Absolute Return research, the biggest 81 launches raised close to $40 billion in assets last year. The total was boosted by 14 funds that kicked off with well over a billion dollars.
Overall, the huge sums of money raised means that 2004 was - by some margin - a record year for start-up funds.
However, the survey only captures those