Hedge fund Form D filings rise 28% to 223 in a month

Hedge fund Form D filings rose 28% to 223 in the month from Oct. 6 to Nov. 5, up from 174 the prior month, according to SEC EDGAR Form D filings. The overall count of new pooled funds barely moved, at 2,155 against 2,144.

Private equity sold the most dollars of any strategy, about $21 billion across 699 new funds, nearly three times the $7.5 billion reported by hedge funds. Private equity filings rose from 670, private credit to 33 from 24, and real assets and real estate to 63 from 58. Venture capital fell to 778 from 829, and other pooled funds fell to 352 from 382. Private credit sold $420 million, small against both private equity and hedge funds.

None of the 50 wealth-channel funds in the filings was open to non-accredited investors, so none can be offered to clients who do not meet the accredited standard. iCapital is behind 22 of the 25 on-platform vehicles. The other three carry the IEQ Capital Access Fund name. All the wealth-channel funds named below are indefinite offerings. Every dollar figure here is the amount sold as stated on the filing, not assets under management.

Quantinno Capital Management LP filed 56 new hedge funds and AQR Capital Management II, LLC filed 50, accounting for 106 of the 223 hedge fund filings. Their combined amount sold, about $3.2 billion, is roughly 43% of the strategy's total. Counts at that scale likely reflect series of vehicles from two sponsors. That suggests the 28% rise should not be read as 49 additional managers entering the market.

The largest single hedge fund raise in the filings has nothing to do with a client shelf. UPS Multi-Strategy Hedge Fund Ltd, sponsored by UPS, reported $1.3 billion sold to one investor in an indefinite offering. Goldman Sachs & Co. LLC is named as seller.