New Fund launches up
***** Quick Reminder, Next IvyPlus Fund Business Development Seminar is October 6th in midtown Manhattan. The event is almost sold out. http://bit.ly/nUGvs *********
Many new funds have announced their launch with a bit of fanfare in the last quarter. The gap between new fund launches and closings continues to narrow as older funds with poor performance are shuttering, re-organizing, finding liquidity in the secondary markets or being acquired. Though 292 funds shut down in the second quarter, 182 funds opened. http://bit.ly/3bzdjE
New fund raises include:
Daoud Zekrya, who was jointly responsible for running Marshall Wace’s Core fund, one of two strategies that makes up the $4 billion) firm’s European long/short flagship Eureka portfolio, has set up Belay Partners with Harry Tyser, who previously ran New Star’s Firefly hedge fund. http://bit.ly/a1dKH
Oak Hill Advisors, L.P. ("Oak Hill Advisors"), a leading investment management firm specializing in below investment grade credit, announced today the final closing of the OHA Strategic Credit Fund (the "Fund"), a $1.125 billion corporate credit distressed fund which targets opportunities in stressed and distressed loans, bonds and other investments. http://bit.ly/sZHTn
Raven Rock Capital launched September 1 with at least $7.6 million under management, according to a Securities & Exchange Commission filing. The online publication Hedge Fund Alert put the figure at between $10 million and $20 million. http://bit.ly/2gsPe3
Former Societe Generale SA bankers including Arie Assayag have started their own hedge fund, Nexar Capital Group LLC. The fund is backed by an investment from U.S. private equity company Aquiline Capital Partners LLC. Nexar has more than 30 investment professionals in New York and Paris and will provide clients with the ability to invest in a “variety of hedge fund products,” including funds of hedge funds and volatility arbitrage funds, the company said. http://bit.ly/vy7gE
In Private Equity News, the California-based Westly Group venture capital firm announced closing of its second fund, exceeding $100 million and focused on clean-technology companies, founder Steve Westly said on Wednesday. http://bit.ly/SkyaZ
Likewise, in a less recent seeding, Citigroup Alternative Investments seeded a new hedge fund run by Viathon Capital. Viathon recently launched the Whitewater Master Fund, a credit opportunity fund focused on non-correlated absolute returns. The fund employs a fundamental, credit-intensive research process aimed at identifing long and short investment opportunities in the United States and Europe. The fund launched in May of 2009 with $50 million in capital. http://bit.ly/kJn46
***** Quick Reminder, Next IvyPlus Fund Business Development Seminar is October 6th in midtown Manhattan. Less than a handful of tickets remaining. http://bit.ly/nUGvs *********
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