European hedge fund GLG partners, is limiting client withdrawals to its $2.9 billion GLG European Long-Short Fund. The fund claims this is to prevent selling assets at depressed prices. This action, or inaction, comes after GLG took similar steps with its emerging markets fund earlier this year. GLG manages $19 billion.
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Showing posts with label emerging markets. Show all posts
Showing posts with label emerging markets. Show all posts
11.10.2008
Is the Middle East the New Hedge Fund Mecca?
Amid falling prices in most emerging and developed markets, Middle East markets with their low correlation to most other markets are poised to be the next stop for dollars on the move. Middle East oriented Hedge funds are poised to grow their assets as investors search for new sources of stability. Even large private equity managers were present in Dubai to discuss the potential for the region. Participants at the conference included Henry Kravis of KKR, Blackstone Group co-founder Stephen Schwarzman and Carlyle Group co-founder David Rubenstein. Rubenstein's firm just opened an office in Dubai.
Hedge funds and private equity firms are not the only ones bullish on the Middle East. Merrill Lynch (to be B of A) CEO John Thain is intent on building up the firms trading, investment banking, and wealth management capabilities and has applied for licenses in Kuwait and Qatar.
Of course, growth in the region is underpinned by rising commodity prices. As we have recently seen, lofty commodity prices are unsustainable during a period of Global slowing. Nonetheless, hedge funds, private equity, and a variety of financials will continue to look for the next growth region now that the emerging market bubble has so impressively crashed.
Hedge funds and private equity firms are not the only ones bullish on the Middle East. Merrill Lynch (to be B of A) CEO John Thain is intent on building up the firms trading, investment banking, and wealth management capabilities and has applied for licenses in Kuwait and Qatar.
Of course, growth in the region is underpinned by rising commodity prices. As we have recently seen, lofty commodity prices are unsustainable during a period of Global slowing. Nonetheless, hedge funds, private equity, and a variety of financials will continue to look for the next growth region now that the emerging market bubble has so impressively crashed.
Top Performing Emerging Markets Hedge Funds
Top Performing Emerging Markets Hedge Funds for the quarter ending Dec. 2007.
| Emerging market equity |
| Monsoon India Inflection Fund |
| Helios Strategic Fund |
| Helios Strategic |
| Kazimir Russian Growth Fund |
| Sattva Asia Opportunities |
| Polar Capital Elbrus Fund |
| CC Asia Absolute Return Fund |
| UFG Russia Select Fund |
| Halbis India Alpha Fund |
| Dynamic Power Emerging Markets Fund |
| Firebird New Russia Fund |
| Optima Opportunity Fund |
| PvB CH Russian Prosperity USD |
| Thames River Eastern European USD |
| GLS Offshore Global Opport. |
| Prosperity Cub |
| Firebird Fund |
| Praesidium SA Hedge Fund |
| Troika Russia Fund-U.S. |
| UG Hidden Dragon Undervalued Assets |
| RAB-Northwest Warrant Fund USD |
| Key Global Emerging Markets USD |
| AlphaGen EtaCas Fund (Class A) |
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