Dymon gets $500 mln from Temasek to seed hedge funds
HONG KONG May 12 (Reuters) - Singapore-based asset manager Dymon Asia Capital has received commitment worth $500 million from Temasek Holdings to jointly invest in hedge funds, Dymon said in a statement on Monday.
The first investment from the venture will be in Port Meadow Fund to be managed by SAC Capital portfolio manager Carl Vine. The long/short equity hedge fund is expected to be launched in the second quarter.
The new seeding venture is led by Dymon President Jay Luo and Managing Director Ben Freischmidt.
Dymon, set up by Danny Yong - a former founding partner and chief investment officer of Abax Global Capital - is one of east Asia's biggest home-grown hedge fund companies with about $4 billion worth of assets under management.
Temasek spokesman Stephen Forshaw confirmed the contents of the statement. (Reporting by Nishant Kumar)