Hedge Funds post Mixed Results; Third Point, Tremblant Partners & Pershing Square among Winners

March 22nd, 2010
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Hennessee Group has released its most recent hedge fund index results, revealing that the “global equity markets were mixed in February, with the U.S. experiencing gains and most international markets posting small losses.” The Hennessee Hedge Fund Index, an average of all the funds in the advisor’s Indices, gained +0.96% last month, and Managing Principal Lee Hennessee commented that “hedge funds are outperforming stocks thus far in 2010.”

The Hennessee Long/Short Equity Index outperformed other indices with a gain of +1.48% in February, though the company predicts that “long/short equity managers will remain cautious and selective due to the uncertainty surrounding the strength of the economic recovery and growing concern that sovereign default risks could become a global problem.” The Arbitrage/Event-Driven advanced less, with +0.76%. Although distressed debt funds “suffered during the beginning of the month as credit spreads widened,” the Distressed Index also advanced +0.76% after bouncing back near the end of the month.

According to the Wall Street Journal, multi-strategy hedge funds also outperformed the market last month while funds with more narrow and specific strategies continued to struggle. Daniel Loeb’s Third Point Offshore fund and Brett Barakett’s Tremblant Partners fund, which invest mostly in global equities, gained +3.2% and +4.6% last month, respectively. Similarly, BlueCrest Captial’s multi-strategy fund has advanced a total of +4.5% so far in 2010.

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For Detailed Investor Profiles on these Investors, click below:
Moore Capital Management
Pershing Square Capital Management
Third Point Management Company
Tremblant Capital Group
Related People: Brett Barakett; Daniel Loeb; Doreen Mochrie; Greg Coffey; Henry Bedford*; James L. Carruthers; Jean-Philippe Blochet; Louis Bacon; Mark Beder*; Nicholas Botta; Robert Schwartz; Roy J. Katzovicz; Scott Ferguson; Tim Lash; William 'Bill' Ackman
Related Entities: Leucadia Corporation (NYSE: LUK); Moore Capital Emerging Markets; Moore Global Fixed Income; Moore Japan Restructuring; Pershing Square Capital; Pershing Square IV; Pershing Square LP; Remington Investment Strategies; Third Point LLC; Third Point Opportunities Master Fund LP; Third Point Resources LP; Third Point Ultra Master Fund LP; Third Point Ventures; Tremblant Concentrated Fund; Tremblant ELS Master Fund; Tremblant Global Fund; Tremblant Growth Strategies; Tremblant Partners; Tremblant Partners Master Fund; Tremblant-Trident Partners*; Valence Capital Management
Related Article Tags: Investment Management, Fund Manager and General Financial News


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