March 27, 2013 / 3:09 AM / in 5 years

Westpac Banking unit buys stake in Asia hedge fund

HONG KONG, March 27 (Reuters) - Ascalon Capital Managers, a unit of Australia’s Westpac Banking Corp, has bought a 30 percent stake in Singapore-based hedge fund company RV Capital Management.

The acquisition includes an investment into RV Capital’s Asia Opportunity Fund, Ascalon said in a statement on Wednesday. It did not disclose the amount invested.

RV Capital was founded in 2011 by Morgan Stanley’s former head of fixed income for Asia-Pacific, Ranodeb Roy, and Vickram Mangalgiri, who earlier worked at PIMCO.

The fund, which focuses on long/short investing across Asian rates, credit and foreign exchange markets, returned 21 percent last year and is up about 5 percent so far this year, according to fund performance data seen by Reuters.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below