The Alternative Investment News' 6th Annual Hedge Fund Industry Awards was held in New York city this year.

The winners were announced at a black-tie dinner and ceremony at Cipriani Wall Street:

Hedge Fund Leader of the Year:
Paulson & Co.

Fund of Hedge Funds Leader of the Year:
Harcourt Investment Consulting

Emerging Manager of the Year:
Algebris Investments

Hedge Fund Launch of the Year:
AdultVest

Institutional Manager of the Year:
The Blackstone Group

Public Fund Investor of the Year:
Teacher Retirement System of Texas

Corporate Pension Fund of the Year:
Railway Pension Trustee Company

Nonprofit Investor of the Year:
Texas Christian University

Hedge Fund Consultant of the Year:
Jaeson Dubrovay, NEPC

The Managed Funds Association MFA and CME Group (CME), a Strategic Partner member, recently arrived back from a jointly arranged trip to meet with Chinese government officials, policy makers and financial services representatives.

The MFA and CME co-sponsored a conference, "Global Markets and the Role of Alternative Investments" was held in June with the Tianjin Municipal People's Government and China Foreign Exchange Administration Magazine.

"The conference agenda helped us to continue a dialogue about the important role of alternative investments in the capital markets and to strengthen relationships in China as its economy and financial markets grow." Richard H. Baker, MFA President and CEO, said.

More at; MFA Travels To China To Hold Alternative Investment Meetings

AdultVest was nominated among others for the 'Hedge Fund Launch of the Year' Award, the alternative investment fund is the world's first Investment Community designed specifically for the Adult Industry.

Other nominees include, Brevan Howard Asset Management, Citadel Investment Group, Odey Asset Management and Paulson & Co. for the 'Hedge Fund Leader of the Year' award.

The winners were celebrated 'Oscar-style' at a gala awards dinner and ceremony last night, June 25th at Cipriani Wall Street, NYC. The winners have yet to be announced.

In a Hedgeco Exclusive, Athamas Capital, a Luxembourg domiciled alternative investment fund, announced the launch of the Athamas Capital SICAV SIF Hedge Fund. (Specialised Investment Fund)

Launched on June 1st, the hedge fund´s strategy is to achieve an absolute return by investing in listed companies addressing the energy and environmental challenges, including; energy, alternative energy, agriculture, energy efficiency and environmental services.

With Goldman Sachas as prime broker, the Athamas Capital SICAV SIF Hedge Fund has EUR16.5 million ($25.5 million) in seed capital and is open to professional investors, high net worth individuals and institutional investors for a minimum investment of EUR250,000 (approximately $390,000). The target fund size for 2010 through 2012 is EUR50-100 million (approximately $77-154 million).

According to the Times Online, 170 hedge funds crashed during the credit crunch in the last three months.

The article said that "the number of hedge fund closures was 23 per cent higher than the same period last year, when 138 funds were shut in the wake of turbulence in financial markets."

The main casualties were single-manager hedge funds, which accounted for 155 closures. Flat performance at many funds has coincided with reduced appetite for risk among investors, poor flows of funds into the industry and general economic weakness.

One hedge fund manager said, "We quite like volatility. We like recessions and we like soup kitchens, because that's when we make our money," he said. "But too much volatility just makes people scared."

The fourth annual Hedge Funds Care Cayman (HFCC),"Open your heart to children benefit", gala dinner is taking place this year in November at The Ritz-Carlton Grand Cayman.

Last year, $254,000 was raised by HFCC for the Nadine Andreas Foster Home, the Cayman Islands Crisis Centre, the CAYS Foundation, the Ministry of Education and the Human Rights Commission.

FHCC is an alliance of the Cayman Islands hedge fund industry professionals devoted to raising funds for the prevention of child abuse and associated treatment initiatives.

The black-tie affair will feature a star-studded evening of glitz, glamour and entertainment. Highlights will include a champagne and cocktail reception, dinner and dancing, and a silent and live auction, featuring such items as sports dream getaway packages, exquisite jewellery, and sports memorabilia.