Editor's view: 4 March 2010
Pardoned by De Larosière, the G20, and, last week, the FSA. If we didn’t know it 12 months ago, we certainly should all be cognisant now that hedge funds played no role in the carnage of 2008
This month’s HFMWeek Subscriber Club breakfast, in association with Advent, will…
Friday, 12 March 2010 RSS Contact Us
03/02/2010
Record numbers of hedge fund investors are currently entering the secondary market space, taking advantage of record discounts and the renewed interest in hedge fund investment.
Culross Global Management, a UK-based fund of hedge funds (FoHF), is one of many firms currently exploring the sector and is engaged in a number of fresh negotiations, having recently launched a new FoHF designed to trade, in part, in the secondary market.
“There’s more liquidity in the secondary market, month-by-month, than there was last year,” says Chris Keen, a partner with Culross. “There is a steady stream of people that don’t want the hassle and aggravation of owning these assets, and would rather sell them for what the market will allow.”
In December, Hedgebay – the secondary market’s leading index – saw the average discount on hedge fund assets drop to a record low in the sector’s 11-year history, down to just under 80% of the Nav. Only one trade took place at anywhere near Nav, at 97%, the firm said.
The Florida State University, which manages a $399m endowment, is also considering hedge fund purchases in the secondary market.
24/03/2010
This month’s HFMWeek Subscriber Club breakfast, in association with Advent, will take place on Wednesday 24…
25/02/2010
This month’s HFMWeek Subscriber Club breakfast will take place on Thursday 25 February. Join us…
22/10/2009
An event that celebrates hedge funds and funds of hedge funds that have outperformed their peers.
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