Monday, July 15, 2024

Hedge fund launch market update: February 2023

  • AFI Pro and Executive members have exclusive access to the tracker
  • You can also follow developments by checking our LAUNCHES section

Eleven new hedge funds were added to AFI’s tracker of launches in February, up three on January in a positive sign for the launch market.

There were also 71 Form D filings registered in the US, which now form part of the AFI tracker.

Their plans defy the difficult landscape facing start-ups, with costs rising, investors wary of day-one commitments and the multi-strategy model tempting talent.

There has been more recent news on that theme, with Ben Melkman signing up to the macro expansion at Schonfeld after closing his own firm last year.

“What brought me to Schonfeld was their flexibility. I can focus on what I do best – navigating the markets, attracting talent, and speaking to investors,” said Melkman. “At Schonfeld, I have all the advantages of running my own business and none of the drawbacks.”

The tracker also features launch plans from existing firms. The most notable to hit the headlines in February was Los Angeles-based debt manager Oaktree starting a CLO equity tranches fund, in a sign of rising opportunities in the space.

It also emerged that SkyBridge Capital is looking to raise $50m for a new Unicorn Recovery Fund which would acquire holdings in between 10 and 15 distressed companies.

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