Launches & Closures

New funds survey

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Assets of new fund launches are down by 30%, with only one multibillion-dollar launch among the lot

Is the era of billion-dollar-plus hedge fund launches nearing an end? At the very least, it's taking a pause. So far this year, only one has made it out the gate - the $3.5 billion-plus Old Lane Management set up by former Morgan Stanley heavyweights Vikram Pandit, John Havens and Guru Ramakrishnan. And without the presence of big-ticket launches, the top 51 new funds with a minimum of $25 million in assets, raised a mere $11.7 billion. That's just about 30% less