Launches & Closures

New funds survey


Launches again raise more than $31 billion, with Paulson pushing the total above 2006's numbers

By Eric Baum

The pace of hedge fund launches last year started at a gallop, and despite the subprime credit debacle that rippled throughout the investment world it slowed down only slightly during the second half. In fact, the triple-digit performance gains by one new fund shorting subprime - Paulson & Co's Credit Opportunity II fund - pushed assets held by new funds at yearend above that in 2006.

The largest 81 launches in the U.S. last year had $31.5 billion by yearend, up slightly from