Key Takeaways
- • Emerging US hedge fund managers are still raising significant capital through co-mingled funds, according to Financial News London, despite the growing use of separately managed accounts (SMAs).
- • The continued reliance on pooled vehicles runs counter to the industry's broader shift toward SMAs, which give investors segregated accounts.
- • Bilal Jafar's report, published 8 October 2026, focuses on founders of newer US hedge fund firms rather than established multi-billion-dollar platforms.
Summary
Emerging managers in the US hedge fund industry are continuing to place substantial bets on co-mingled funds, collective vehicles in which many investors' capital is pooled, according to Financial News London. The report, written by Bilal Jafar and published on 8 October 2026, indicates that this preference persists even as separately managed accounts have gained ground across the sector.
Separately managed accounts allow each investor to hold assets in a dedicated account, which can offer greater transparency and customization. The article suggests that founders of newer firms are nonetheless keeping co-mingled structures central to their fundraising strategies, although the source excerpt available for this summary does not detail specific fund sizes, fee arrangements, or named managers.
Further specifics on the figures, investor base, and reasoning cited by the founders could not be verified from the material available for this summary. Readers seeking those details should consult the full Financial News London article.
Separately managed accounts allow each investor to hold assets in a dedicated account, which can offer greater transparency and customization. The article suggests that founders of newer firms are nonetheless keeping co-mingled structures central to their fundraising strategies, although the source excerpt available for this summary does not detail specific fund sizes, fee arrangements, or named managers.
Further specifics on the figures, investor base, and reasoning cited by the founders could not be verified from the material available for this summary. Readers seeking those details should consult the full Financial News London article.
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