•  
• Tweet
•  
•  
•         Track Keywords
•  
• 

In the week ending March 1st, 2024 Man Group, the world's largest publicly listed hedge fund, announced that it suffered a double-digit drop in revenue and profit despite a jump in assets under management in its full-year results. London-listed hedge fund's profit after tax came in at $234m for the year ended 31 December 2023, down 62% compared with $608m in 2022.

Assets under management at the hedge-fund manager jumped 17% to a record $167.5 billion last year. That growth reflected Man's purchase of the private credit manager Varagon Capital Partners, plus $9.7 billion in investment gains and $3 billion in net client inflows.

Meanwhile, only 62 new hedge funds launched in Asia last year, the lowest since number since 2009 and just 15 were China-focused funds, data provider Preqin said. But Japan-focused funds more than doubled to 19. The figures underscore the shift away from China as the world's second-largest economy struggles amid a property sector crisis and trade tensions with the United States.

In new launches, Greg Coffey is in talks to acquire Emso Asset Management to create a money manager with $13 billion in combined assets as the macro trader diversifies his hedge fund firm; Eisler Capital is planning to raise between $1bn and $1.5bn of capital from investors and hire up to 25 portfolio managers this year as the fast-growing UK hedge fund muscles into one of the hottest parts of the industry, and Theta Capital has launched its fourth Theta Blockchain Ventures vehicle to invest in core blockchain infrastructure at the earliest stages.

In the meantime, in a slow fundraising market, buyout firm EQT hit its hard cap of €22 billion ($23.7 billion) for its flagship private equity fund ......................

To view our full article Click here