HONG KONG May 22 A former Hong Kong-based fund
manager at SAC Capital is preparing to launch his own Greater
China-focused hedge fund, people with knowledge of the matter
said, adding to a list of new start-ups in Asia this year as the
industry show signs of recovery.
Ken Xu left Steven A. Cohen's firm, once one of the world's
biggest hedge funds, this month after a more than three-year
stint, records with Securities and Futures Commission show.
He plans to start a long/short equity hedge fund by the end
of 2014 or early next year, the people added. It was not
immediately clear how much Xu's fund would invest.
Xu did not respond to emails seeking comment. The sources
declined to be identified as the plans remain confidential.
(Reporting by Nishant Kumar; Editing by Denny Thomas and Miral