In the week ending September 16th 2022, HFR reported that Emerging Markets hedge funds extended 2Q declines through August, with losses again driven by exposure to Russian assets as well as the acceleration of global inflation, rising U.S. interest rates and slowing economic growth, said a study. According to the report, tracking unprecedented volatility concurrent with the ongoing military conflict in Ukraine, after falling more than -50 percent through April, the HFRI EM: Russia/Eastern Europe Index surged +26.8 percent over the following three months, paring the YTD decline to -37.4 percent through mid-3Q.
The hedge fund industry could be headed for a major consolidation, according to panelists at the SALT Conference, which just wrapped up in New York. Significant asset outflows driven by underperformance are putting pressure on even well established funds. As a result, the war for talent is heating up.
In new launches, CI Global Asset Management (CI GAM) announced the launch of CI Alternative Multi-Strategy Fund, which provides investors with convenient one-stop access to CI GAM’s suite of liquid alternative funds and other non-traditional investments; Goldman Sachs Group Inc. is set to close its latest mezzanine debt fund with roughly $15 billion of firepower, according to people with knowledge of the matter, and ICG is raising a new direct lending fund, targeting EUR 10bn-plus for a vehicle that will be one of the largest of its kind in Europe, sister publication Debtwire reported citing three sources familiar with the matter.
Meanwhile, Ares Management C………………….
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