Large investors are reassessing their hedge fund investments in the wake of the industry’s worst year on record, with some questioning the role of middlemen in the wake of the Madoff debacle and others investing in black box replication strategies. (PDF)
However, the industry is fighting back, with a wave of new launches in the pipeline, most of which appear to have already attracted seed funding.
David Butler, partner at Kinetic Partners, a London-based hedge fund consultant, said: “We have got 30 new managers launching at the moment, which is more than I have ever had in the last 12 years. Virtually all have seeding from large family offices or institutions,” added Mr Butler, who said traders were leaving large hedge funds and investment banks to set up long/short equity, distressed credit and macro funds.
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