Mayinar Capital Advisers has started trading with more than $1 billion under management. The fund, which spun out of Tudor Investment Corporation, launched Friday. It has already become a shining gem in a sea of coal for the industry. HFR reported recently that global AUM for hedge funds slumped under $3 trillion for the first time since 2016.

Mayinar Capital and Other Fund Launches

Let’s round up the other fund launches and closes that kicked off Monday.

Venture capital firm Verock announced it has launched a new fund around healthcare. The new $447 million fund already has a robust list of investments. They include Biolux, Corvidia, Cyteir Therapeutics, Federation Bio, Element Biosciences, Encoded Therapeutics, Impopharma, Adavium Medical, Intarcia Therapeutics, and Aveo Pharma. Here’s more on the fund.

Arctos Sports Partners announced it will launch a new sports-focused PE fund. The firm plans to raise between $1.25 billion and $1.75 billion and invest in major U.S. leagues. Backers of the fund include Goldman Sachs. Its leaders include former Madison Square Garden CEO Doc O’Connor and PE leader Ian Charles. Here’s more.

Finally, Apollo Global Management plans to make a big splash in the distressed debt markets. The firm is planning to raise $20 billion in the next year with a focus on ways to take advantage of dislocations in the credit markets due to COVID-19. The firm announced its plans Friday, according to the Wall Street Journal.

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