Investcorp, WMG Launches Asian Long/Short Fund

Jan 31 2007 | 11:40am ET

London-based WMG and Investcorp, a global alternative investments shop, on March 1 will launch the WMG Asian Equity Fund, a long/short vehicle, according to Paresh Shah, WMG’s COO and CFO.

“The fund will be a fairly concentrated long/short vehicle and, because of liquidity constraints, will be investing in larger companies,” said Paresh.

WMG has created a Hong Kong-based subsidiary, WMG Asia, which will manage the assets of the new partnership, while Investcorp will seed the fund. WMG and Investcorp will coordinate risk management and operational oversight, as well as marketing, through their distribution channels. Lena Tan, who most recently worked at Asian hedge fund Ward Ferry, will be the portfolio manager of the fund.

The fund will charge a 2% management fee and 20% performance fee, with a $1 million minimum investment requirement, and will have U.S. dollar- and euro-denominated share classers. It will be domiciled in the Caymans and listed on the Irish Stock Exchange.

WMG is an alternative investment platform founded by Mehmet Dalman, the former head of investment banking at Commerzbank. Investcorp was founded in 1982 and is publicly traded on the London and Bahrain stock exchanges. The firm has five lines of business: private equity, real estate, hedge funds, venture capital and Gulf growth capital, and is currently managing more than $10 billion in assets.

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