In another sign the economy has turned a corner, the number of new hedge funds launched is growing in size and volume, reports The Financial Times. Citing data from Chicago-based Hedge Fund Research, the article notes that new fund launches rose to 182 for the second quarter of 2009, up from 148 in the previous quarter. However, the sum total of all new assets raised by hedge funds in Europe still do not match the $2.5 billion raised by a single fund, Brevan Howard’s Strategy Fund, in 2008.
The pace of start-ups is an important measure of industry health, building on the uptick in performance and investor inflows that have also picked up this year.
In a related story, legendary hedge fund manager Julian Robertson, along with Emil Henry Jr., are planning to launch a private equity firm to invest in North American and European infrastructure.
As you may know, Robertson founded Tiger Management LLC in 1980 and turned it into one of the world’s largest hedge funds, until closing the fund in 2000. Emil Henry was previously global head of infrastructure at Lehman Brothers Holdings Inc. in New York.
Their new Tiger Infrastructure Partners LP will invest in energy, water and transportation, reports Bloomberg.