The FT reports today that Jack Meyer, former manager of Harvard’s $25 billion plus endowment, has raised more than $5 billion for his new hedge fund, Convexity Capital. This represents the most successful launch in hedge fund history. Does this mean the talk of the decline of hedge funds was overblown? Perhaps not. Meyer is “arguably the best hedge-fund manager of the past 15 years while at Harvard,� so its not surprising he can attract a lot of money. Additionally, some say Convexity really is not a hedge fund because it will employ a fixed income strategy. Also, Convexity will not be charging the hedge fund standard “2 & 20�—2% management fee on all assets, plus 20% of the profits. Instead, it will charge a 1.25% management fee plus 20% of the profits above the benchmark index’s return.