The pace of new hedge fund launches remains healthy, with a number of experienced portfolio managers and senior investment professionals preparing to establish independent firms across a range of strategies. Recent announcements highlight a continued appetite for specialist investment platforms, particularly those led by managers with established institutional track records.
Among the latest launches is Ticonderoga Management, where veteran investors Douglas Shultz and Daniel Hesse are preparing to launch a new event-driven hedge fund. Both managers previously worked at Millennium Management, with the fund expected to begin trading in the fourth quarter.
In the high-frequency trading space, former Alvarez & Marsal consultants are set to launch Alphaxis Partners, a Gibraltar-based firm focused on digital and traditional asset classes, with a particular emphasis on cryptocurrency markets.
London is also seeing continued activity. Cedar Investment Partners is being established by Brummer alumni, with former Citadel Global Fixed Income portfolio manager Matthew Barnett joining as Chief Investment Officer. The firm is expected to launch in the coming months with a macro-focused investment strategy.
Meanwhile, former Banco de Investimento Global (BiG) trader Ricardo Seabra is launching West Forge Partners, another London-based hedge fund. West Forge will initially focus on macro investing, adding to the growing number of discretionary macro platforms entering the market.
Healthcare specialist Pacific Way has committed capital to Enix Global, a new healthcare-focused long/short equity fund founded by former Millennium Management and Verition portfolio manager Nadav Hazan.
Finally, former Citadel and Point72 Asset Management portfolio manager Daniel Beckmann is preparing to launch Brite Avenue Capital, a fundamental long/short equity hedge fund, further demonstrating that experienced multi-manager talent continues to spin out into independent businesses.
The latest wave of launches reflects an ongoing trend within the hedge fund industry: experienced investors are increasingly choosing to build independent platforms after successful careers at large multi-manager firms.
The diversity of strategies represented, from event-driven and macro investing to healthcare long/short equities, quantitative trading, and digital assets, also highlights the breadth of opportunities attracting capital despite a challenging macroeconomic backdrop.
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