Top hedge fund spin-offs YTD launch with over $7 billion in assets

August 1st, 2010
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HedgeTracker recently analyzed the year-to-date six largest independent hedge fund launches of 2010, which all together raised $720 million in assets under management (AUM). Now the focus has shifted to a section of new launches that was excluded from the previous report, new hedge fund firms that were created either via spin-offs or mergers of existing firms. The top five such firms of 2010 year-to-date have raised significantly more than $720 million for their launches, combining for an estimated total of over $7 billion.

The largest new hedge fund firm on the list will not officially launch until the fourth quarter of 2010. The new firm, Foxley Asset Management, will be formed by combining four yet to be named existing independent hedge fund managers. Foxley Asset Management, which plans to launch with $2.5-$3.5 billion in assets under management, was formed by Paul Hamill, the former Chief Operations Officer of Citadel Investment Group, and Grant Thompson, formerly the co-CEO of CQS Management.

Foxley’s four “founding” hedge funds will share equity in the management company and all currently manage between $600 million and $1.3 billion. According to HFM Week, their strategies include equity long/short, distressed, special events and specialist credit strategies. After the launch, Foxley Asset Management plans to supplement the initial four with other hedge funds that employ different strategies.

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For Detailed Investor Profiles on these Investors, click below:
Astenbeck Capital Management
Candlewood Investment Group, LP
Castle Hill Asset Management
Copia Capital LLC
Related People: Al De Leo; Andrew Hall; Brian Bassett; Brian Herr; Craig Abouchar; David Koenig; Fraser Brown; Greg Richter; Gurdev Dillon; Indra Chandra; Jaime Vieser; Michael Lau; Philip Grose; Ross Mandeville; Sasha Vlahcevic; Sven Olson; Tim Flannery; Vikram Govindan
Related Entities: Astenbeck Holdings LLC; Axial Investment Management Ltd*; Citigroup*; FrontPoint Partners*; Ignis Investment Management; Occidental Petroleum Corporation; Phibro Commodoties Fund*; Phibro LLC; Phibro Oil Fund*; Trove Partners*; Astenbeck Commodities Fund II LP; Candlewood Special Situations Fund; Candlewood Structured Credit Fund; Castle Hill Total Return Fund; Copia Capital; Credit Suisse Group AG*
Related Article Tags: Investment Management, Fund Manager and General Financial News; Hedge Fund Spotlight Reports


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