Hedge Fund Launch Total is $19.5B So Far in 2008

July 8, 2008 (PLANSPONSOR.com) - New hedge fund launches during the first half of 2008 in the Americas totaled $19.5 billion, according to the Absolute Return New Funds Survey.

According to a press release from Absolute Return magazine, the top five new funds account for $13.7 billion of the total – more than 70%. The number of fund launches is down 50% from the same period last year, though the amount of capital is greater.

During the first half of 2007, 72 new funds launched with $14 billion in capital, the release said. This year, five funds were formed with more than $1 billion each, compared to three funds that surpassed the billion-dollar mark during the same period in 2007.

Long/short equity funds dominated the new launch list, followed by funds that invest in mortgaged-backed securities and those pursuing distressed strategies. Goldman Sachs Asset Management amassed $8.1 billion of the $19.5 billion total with $7 billion in the Goldman Sachs Investment Partners equity long/short fund, and $1.1 billion in Goldman Mortgage Credit Opportunities.

The survey results are published in the July/August issue of Absolute Return magazine.

align="left">TOP TEN HEDGE FUND LAUNCHES (January - June 2008)

align="left">Firm name

align="center">Fund name

align="center">Portfolio

align="center">Strategy

align="center">AUM ($m)

align="right">Location

align="center">manager(s)

align="center">

align="left">Goldman Sachs

align="center">GS Investment Partners

align="center">Raanan Agus,

align="center">Equities

align="center">7,000*

align="right">New York, NY

align="center">Kenneth Eberts

align="left">Conatus Capital

align="center">Conatus Capital Partners

align="center">David

align="center">Equities

align="center">2,300

align="right">Greenwich, CT

align="left">Management

align="center">Stemerman

align="center">

align="left">Lone Pine

align="center">Lone Dragon Pine

align="center">Steve Mandel

align="center">Emerging

align="center">1,840

align="right">Greenwich, CT

align="left">Capital

align="center">

align="center">Markets

align="left">Highliner

align="center">Alyeska Fund

align="center">Anand Parekh

align="center">Equities

align="center">1,500

align="right">Chicago, IL

align="left">Investment

align="left">Group

align="center">

align="center">

align="left">Goldman Sachs

align="center">Goldman Mortgage

align="center">Jonathan

align="center">Mortgage

align="center">1,100*

align="right">New York, NY

align="center">Credit Opportunities

align="center">Beinner, James

align="center">Backed

align="center">Fund

align="center">Clark, Thomas

align="center">Securities

align="center">Teles

align="left">SIR Capital

align="center">Standard Investment

align="center">Vince Maddi,

align="center">Equities

align="center">700

align="right">New York, NY

align="left">Management

align="center">Research Hedge Equity

align="center">Shawn

align="center">Master Fund

align="center">Brennan

align="left">Bellman Walter

align="center">Bellman Walter Global

align="center">Rich Walter,

align="center">Equities

align="center">650

align="right">San Francisco,

align="left">Capital

align="center">Fund

align="center">Jeffrey Bellman

align="center">

align="right">CA

align="left">KnightHead

align="center">Knighthead Master Fund

align="center">Ara Cohen,

align="center">Distresssed

align="center">500

align="right">New York, NY

align="left">Capital

align="center">Tom Wagner

align="left">Management

align="center">

align="center">

align="left">Obrem Capital

align="center">Obrem Capital

align="center">Andrew

align="center">Equities

align="center">500

align="right">New York, NY

align="left">Management

align="center">Rechtschaffen

align="center">

align="left">One William

align="center">One William Street

align="center">David Sherr

align="center">Credit

align="center">500*

align="right">New York, NY

align="left">Street Capital

align="center">Capital Master Fund

align="left">* estimate

align="left">Source: Absolute Return

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