HONG KONG, Feb 23 (Reuters) - Wuzhu Asia Partners, founded by former director of Asia research at New York-based multi-billion dollar hedge fund Kingdon Capital Kyu Ho, is set to launch a pan-Asia long/short equity hedge fund on March 1.
Wuzhu, named after an ancient Chinese coin, is backed by Hong Kong-based hedge fund seeder Samena Asia Managers, Ho told Reuters.
“We are basically launching with their money and friends and family money,” Ho said, but declined to disclose the start-up capital citing a confidentiality agreement with Samena.
He said the fund could take in about $1 billion given its focus on liquid stocks across Asia and hoped to hit $100 million in assets by the end of 2012.
Ho, 39, who moved to Hong Kong from New York last year, is joined by Chief Operating Officer Grant Suttie, who worked at Martin Currie since 1996 and was most recently the investment operations manager at the firm in the UK.
The investment team, which the two executives plan to expand as assets under management grow, also includes Kevin Ji, a former analyst at Kingdon Capital, New York-based hedge fund Maverick Capital and Goldman Sachs.