New Hedge Funds 2010
New Hedge Funds Raised More Money from Investors in 2010
At least 59 new funds with more than $50 million in assets under management were launched last year, raising $17.4 billion, according to a survey of hedge-fund start-ups by industry publication AR magazine.
That’s up 17% versus 2009, when 53 new funds raised $14.89 billion, a record low for the survey.
Bridgewater Associates, run by Ray Dalio, Overland Advisors and Astenbeck Capital Management were the source of last year’s biggest launches, AR said.
The 2008 financial crisis triggered record investor redemptions and left the average hedge fund down almost 20%. At the end of the year, Bernard Madoff’s Ponzi scheme was a hammer blow to the industry. Source