Launches & Closures

New funds survey

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Launches raise $31 billion, with six billion-dollar-plus funds

With markets unpredictable and the collapse of a multibillion-dollar hedge fund giving investors the jitters, new fund launches slowed for the second year in a row. Last year, the 86 largest hedge fund launches raised $31 billion, down from $34 billion raised by 82* funds during 2005 and $40 billion by 81 funds in 2004.

Most of the launches were in the first six months. But after the equity market meltdown last spring and summer hammered hedge funds, and Amaranth Advisors went bust last fall, raising money got harder for new