New Star launches property hedge fund with $50 mln

LONDON, Oct 1 (Reuters) - British fund firm New Star Asset Management said on Monday it had equity commitments of $50 million and that it wanted to raise up to $400 million for its new real estate hedge fund. The New Star Real Estate Hedge Fund Limited, announced in July and launched on Monday, will be managed by Robin White -- formerly of Rock Capital -- and will invest mainly in European listed property securities such as real estate investment trusts REITs).