12 Asia Hedge Fund Launches Hit US$2 Billion

(FINalternatives) Newly-launched hedge funds in Asia raised US$2 billion in the first half, according to a new report.

The fundraising total topped the second half of last year’s by 50%, even though only two more hedge funds, 32, debuted in the last six months than in the earlier period. But each averaged US$63.25 million at launch, compared to US$44 million in the second half of 2011, according to AsiaHedge.

Most of the money went into second-generation hedge funds, such as those launched by Perry Capital veteran Alp Ercil and former FrontPoint Partners trader John Foo. And AsiaHedge said to expect more of the same in the second half, with hedge funds from Credit Suisse’s David Curtis, Och-Ziff’s Manjor Jain and Sohit Khurana, and JPMorgan Chase’s William Lee. ===> Continue Reading at FINalternatives

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.

Asia Hedge Fund by Former Och-Ziff Managers

Manoj Jain and Sohit Khurana, two former managing directors at Och-Ziff Capital Management Group LLC (OZM) (OZM) run by Daniel Och, plan to start their own Asia hedge fund later this year, said four people with knowledge of the matter.

Maso Capital, their Hong Kong-based company, plans to raise $250 million for the event-driven and convertible-bond-arbitrage fund, said two of the people, who asked not to be identified as the information is private. Jain and Khurana declined to comment.