Absolute Return magazine reports that only 35 new hedge funds have been launched in the first half of this year, down markedly from 72 funds in the first half of 2007. But this year, those new funds have raised $19.5 billion, up 39% in total assets under management at the outset from the $14 billion the new funds raised last year.
In fact, five of the 35 new funds this year amassed more than $1 billion. The most successful is the GS Investment Partners long/short fund from Goldman Sachs, which raised $8.1 billion. The second most successful new hedge fund is Conatus Capital Partners, which raised $2.3 billion.