More than 40 hedge funds throughout Europe have gone public in the last two years, raising more than $13.5 billion, but the rash of initial public offerings flooding the market there coupled with weak performance is causing many investors to lose interest, The Wall Street Journal reports.

The hedge funds have been keen on going public since some of them have raised as much as $1 billion and IPO regulations in Europe are not as strict as they are in the U.S. Some of the notable hedge funds to have recently gone public include Harris Alternativse, K2 Advisors, Marshall Wace and Brevan Howard Asset Management. In the first quarter, seven funds held IPOs, raising $1.7 billion, and last year, hedge funds’ IPOs raised $5.7 billion.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.