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Asian New Hedge Funds Raised $2.86 Billion in First Half, AsiaHedge Says

BusinessWeek – Twenty-four new hedge funds in Asia raised $2.86 billion in the first half of 2011, more than double the preceding six months as the average startup size surged, an AsiaHedge New Funds Survey showed.

The amount raised compares with $1.09 billion in the second half of 2010 and 70 new funds that started in the first half of last year, AsiaHedge said in an e-mailed survey dated yesterday. The average new hedge fund size jumped to $119 million in 2011 compared with about $40 million in the first half of last year, while multi-strategy funds attracted the most money for the first time, luring $1.9 billion, it said.

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