D.E. Shaw Group has raised nearly $100 million for two new funds D.E. Shaw Alkali Fund III and D.E. Shaw Alkali International Fund III according to regulatory filings. The pair are the latest iteration of the New York hedge fund firm’s Alkali group of hedge funds.
The $100 million is probably understated since the amounts disclosed in Regulation D filings frequently don’t capture all of the capital that a fund will wind up raising but is a snapshot in time.
The firm declined to comment.
Altogether, D.E. Shaw had more than $36 billion in investment capital as of April 1.
Meanwhile, the firm’s multistrategy funds are off to a pretty good start this yea.r
The D.E. Shaw Composite International Fund, for example, is up about 7.34 percent for the year after the multistrategy fund gained 0.8 percent in April, according to a database of hedge fund performance.
Through just February, the D.E. Shaw Heliant International Fund, a macro fund, was up 12.78 percent, while the D.E. Shaw Oculus Inernational Fund, which the firm calls a multistrategy macro fund, was up 9.1 percent. it is not known how they have done since then.
Like the earlier funds in this group, the new Alkali offerings require a minimum investment of $1 million.
D.E. Shaw Alkali Fund II and D.E. Shaw Alkali International Fund II, which were launched in 2013, currently have $308 million, according to the firm’s recent ADV filing with the Securities and Exchange Commission.
The initial Alkali funds were launched in 2012 and now have $396 million in investment capital, according to the firm’s ADV.
The Alkali funds are managed by D.E. Shaw’s asset-backed securities team and its corporate-credit managers.
They are broad credit-oriented funds focused on less liquid asset-backed securities, mortgage-backed securities and pools of loans that don’t fit into the firm’s larger, broad-based multistrategy funds like Composite and Oculus.
Last year composite was up 13.81 percent, while Oculus posted gains in the upper single digits.
