$100mm+ Hedge Fund Launches |
Date: Tuesday, March 1, 2011
Author: HedgeTracker
A couple of hedge fund managers are proving that the fund raising environment for
new launches is improving. Earlier this month, newly formed Indaba Capital launched
its first hedge fund with a reported $150 million in assets under management, while
Ionic Capital Management has reportedly raised more than $100 million for its newly
launched convertible bond focused hedge fund.
Indaba Capital, which employs an event-driven strategy, was founded last year by
Farallon Capital veteran Derek Schrier. While at Farrallon, Schrier was responsible
for managing credit investments. Indaba only targeted a limited number of investors
for the launch and hopes to double its assets during the second quarter when it
opens up to outside investors.
Unlike Indaba Capital, Ionic Capital Management is not a start-up manager. The firm
already has over $2 billion in assets under management and was founded back in 2006
by Highbridge Capital Management veterans Bart Baum, Dan Stone and Adam Radosti.
The firm’s flagship hedge fund is the Ionic Capital Master Fund, which employs an
arbitrage / relative value strategy.
To view HedgeTracker’s lists of Top Hedge Fund Launches, please click below:
Top Hedge Fund Launches of 2011
Top Hedge Fund Launches of 2010
Top Hedge Fund Launches of 2009