As recession fears continued to pull equity markets down in December, the hedge fund industry posted its own – if smaller – monthly loss, down -1.68% for the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge.  The hedge fund industry fared better than the S&P 500 Total Return Index for the year as well, losing -8.59% over the 12 months while the S&P 500 Total Return Index fell -18.14%. The industry’s 9.45% outperformance in 2022 marks the first instance in more than 14 years where hedge funds have outperformed the index in a calendar year.    

Crossover hedge funds that invest in fast-growing public and private companies may have lost tens of billions of clients’ money last year, but that hasn’t deterred some managers from planning to bring more of them to market in the coming months, according to a report by Financial News. The report cites unnamed sources as confirming that Patrick Fu,, who co-led Sequoia‘s hedge fund until October 2021 before leaving in March, is planning to raise as much as $1 billion for his new crossover fund, Los Angeles-based Dandelion Capital Management, with a Q3 launch targeted. Sequoia Capital Global Equities lost about 41%

Cleavemoor, a consumer sector investment advisor, has launched Cleavemoor 10, a new open ended hybrid vehicle employing the firm’s proprietary Agile Horizon Strategy, which combines a consumer sector long/short public equities portfolio with longer-term consumer private equity investments. 

Oil trader Pierre Andurand’s main Andurand Commodities Discretionary Enhanced hedge fund was down 19% last week as oil prices fell below $74 a barrel in New York on the back of global recession fears, according to a report by Bloomberg. The report cites an investor letter as revealing the slump at the fund which was one of the’s best performing hedge funds in recent years with gains of 154%, 87% and 59% in 2020, 2021, and 2022, respectively. At one pint last year, the fund was up by as much as 160% before giving up some of its gains in

Windham Capital Management has launched the Windham Quantitative Commodity Fund which will be offered as a private fund vehicle consisting of three commodity investment strategies that have been implemented by the firm’s principals for more than a decade – commodity roll yield, commodity momentum, and commodity value.  Long and short positions in commodity futures and SWAPs will be the instruments used to implement the portfolio. Windham says the new fund will seeks to generate returns that have a low correlation to both traditional and alternative assets to provide improved diversification as well as inflation protection for investor portfolios.  The Quantitative

London-based hedge fund manager Trium Capital has launched a new long-short strategy it claims will be green enough to comply with the European Union’s most stringent environmental, social and governance designation, Article 9. Managed by Joe Mares and Tom Ayres, the fund is a UCITS equity long/short market neutral strategy and aims to deliver long-term returns with low correlation to traditional asset classes while driving positive environmental outcomes and addressing challenges including climate change, waste management and water access. Trium already has a successful track record in ESG-aligned investments with its Article 8 ESG Emissions Impact Fund – a strategy

CTAs completed a record year in 2022 following broadly flat performance in December, according to data from Societe Generale, with the SG CTA Index down slightly at -0.15% for the month to finish with its best annual gain 20.07%.