According to the findings of a survey, start-up hedge funds based in the United States raised a record $12 billion in the first half of 2004.
The research by the alternative investment publication ‘Absolute Returns’ revealed that the largest 47 start-up funds raised an exceptional $10 billion alone.
The most substantial start up according to the magazine was Minneapolis-based Black River Capital, starting with $1.3 billion, followed by Ospraie, which raised $1.2 billion. Both funds were spin outs from existing organisations.
The researchers also predict that the latter half of the year will see equally frenzied start-up activity with a clutch of planned launches, such as the $3 billion Eton Park presided over by Eric Mindich, formerly of Goldman Sachs, likely to surpass the previous record of $25 billion raised by start-ups last year.
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