Allan Finnerty appointed by Maso Capital for new hedge fund in Asia

(Reuters) – Maso Capital has hired former Mount Kellett Capital executive Allan Finnerty for a top role at the hedge fund being set up by former managing directors of Och-Ziff Capital Management Manoj Jain and Sohit Khurana.

Finnerty has joined as a chief operating officer to help the Hong Kong-based hedge fund launch by the end of 2012, two sources familiar with the matter said.

Finnerty, whose previous employers include Morgan Stanley and Goldman Sachs, was the chief financial officer for Asia at private equity fund Mount Kellett, according to his Linkedin profile.

(BN) Cavenagh Hedge Fund Gets Dutch Pension Money, Moves to Amsterdam from Asia

Article First Ran June 14, 2010 – Want to move to Amsterdam? IMQubator, a Dutch based hedgefund incubation firm is seeding fund managers. However, they request your presence in the Netherlands.

Cavenagh Hedge Fund Gets Dutch Pension Money, Moves to Europe

June 14 (Bloomberg) — Cavenagh Capital, set up last year by former Morgan Stanley and DBS Holdings Ltd. managers in Singapore, will start a new macro hedge fund in July after getting money from the biggest Dutch pension fund.

Want to move to Amsterdam? IMQubator, a Dutch based hedgefund incubation firm is seeding fund managers. However, they request your presence in the Netherlands.

Morgan Stanley Private Equity Asia Targets US$1.5 Billion Fourth Fund

(DOW JONES) It is in the early stages of fundraising for its fourth vehicle, which will target deals in China and South Korea, the person said. The firm in 2007 closed around a US$1.5 billion third fund that it previously said has a five-year investment period, followed by a five-year harvest period.

In March, the firm made a US$300 million investment in Chinese specialty chemicals maker Tianhe Chemicals Group, which is a major producer of lubricant-oil additives and fluorochemicals used for purposes such as making water-repellant surfaces, Dow Jones Newswires previously reported. Last year, Morgan Stanley Private Equity Asia made a US$100 million investment in China XD Plastics Co. and US$50 million in Yongye International Inc., a seller of agricultural nutrients.

SOURCE:

• DOW JONES

Reuters: Buyout firms fund raisings in Asia

June 6 (Reuters) – Private equity firms raising new Asia
funds, and some recently closed funds:

CARLYLE GROUP
Carlyle is raising around $3.5 billion for a new Asia
fund.

Sze’s Azentus Capital bounces back after 2011 AuM drop

(HFMweek) – Hong Kong-based Azentus Capital, the multi-strategy hedge fund manager that debuted last year as one of Asia’s biggest ever start-ups, has seen assets return to above $2bn, as funds throughout the region bounce back from a bruising 2011.

The firm, founded by former Goldman Sachs Asia prop trading chief Morgan Sze in April 2011, launched with nearly $1.1bn in AuM. It first breached the $2bn barrier in August 2011, HFMWeek reported at the time, following strong inflows from investors impressed by its pedigree. The firm has been closed to new investment ever since.

Korean Hedge Fund Conference June 14

On Tuesday, June 14, professionals from the Korean hedge fund industry will meet to discuss recent issues with the hedge fund industry, including a response to the US hedge fund crisis, role of the prime broker and other issues a the 2012 Korean Hedge Fund Conference, which is being held at The Westin Chosun Hotel, Seoul
Grand Ballroom.

In 2011, Korea’s Financial Supervisory Commission (FSC) announced the opening of the Korean financial market to allow hedge funds to operate.  Korea’s financial firms, investment advisors, and institutional investors accordingly have worked to position themselves to capitalize on this new opportunity.  In December 2011, the FSC allowed hedge funds to establish and operate in Korea and have revised regulations to allow Korean investors to place funds in overseas hedge funds.

Morgan Stanley Private Equity Asia Targets US$1.5 Billion Fourth Fund

(Dow Jones) Morgan Stanley’s Asia-based private equity arm is gearing up for a roughly US$1.5 billion new pan-Asian fund, according to a person familiar with the matter.

It is in the early stages of fundraising for its fourth vehicle, which will target deals in China and South Korea, the person said. The firm in 2007 closed around a US$1.5 billion third fund that it previously said has a five-year investment period, followed by a five-year harvest period.

Citi hires talent for prime unit serving trades and hedge funds in Asia

(Reuters) – Morgan Stanley’s (MS.N) head of prime brokerage sales for Singapore, Carl Davey, will be leaving the firm after 16 years to join Citigroup’s (C.N) unit providing services such as clearing trades and lending money to hedge funds in Asia-Pacific.

Davey will lead prime brokerage sales at Citi for Greater China region and is among one of the four hires by the Wall Street bank this quarter, David Murphy, head of Citi’s prime finance unit for Asia-Pacific, told Reuters, confirming the hire.

Other hires include David Stanbridge, former chief operating officer at Hong Kong-based hedge fund Kilometre Capital.

A Morgan Stanley spokeswoman said Davey was on gardening leave and will be replaced by Stella Jaeger, an executive director in the prime brokerage sales team based in Singapore.

The hire is part of Citigroup’s plan to gain market share in the fiercely competitive industry which is led by Goldman Sachs (GS.N), Morgan Stanley and Credit Suisse (CSGN.VX) in the region.

Citi is ranked No. 7 prime broker in the region with assets under management of about $6 billion and 72 mandates, a survey released in May by industry tracker AsiaHedge showed.

SOURCE:

• Reuters

The Hunch, the Pounce and the Kill – NY Times

How Boaz Weinstein and Hedge Funds Outsmarted JPMorgan

BOAZ WEINSTEIN didn’t know it, but he had just hooked the London Whale.

It was last November, and Mr. Weinstein, a wunderkind of the New York hedge fund world, had spied something strange across the Atlantic. In an obscure corner of the financial markets, prices seemed out of whack. It didn’t make sense.

Mr. Weinstein pounced. Read More at NYTimes.com