One of the largest hedge funds to get started this year is being brought to market by two managers who got their start at Citadel.
Michael Rockefeller and Karl Kroeker launched Woodline Partners this week with $2 billion in investor commitments. So far in 2019 it is the biggest fund to be launched.
The beginning of 2019 started out slow for new hedge fund launches, the lowest number of hedge funds were created in the first three months of the year than in at least ten years, with a total of 136 new funds.
“Gone are the days where FOMO drove allocators to rush into large launches,” said Les Baquiran, founder of Alpine Capital Advisors, which helps fund managers raise money. “Today most allocators prefer a slower and longer ramp for hedge funds to refine and optimize both the investment and business side, and scale from there.”
It is expected that about six or so funds with over $1 billion AUM will enter the market during the rest of the year.
Woodline is based in San Francisco. The fund will be market-neutral and will be focused on investing in global health-care and technology companies.
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