Gandhara Founder Readies New Fund For Launch

Feb 11 2010 | 11:13am ET

Gandhara Capital founder Davide Erro is set to launch a new hedge fund in April with $100 million in seed capital.

With ambitions to become the first global hedge fund with operations exclusively in Asia, Turiya Advisors Asia will launch its first fund of April 1, Bloomberg News reports. Targeting returns of between 15% and 20%, the fund will invest in between 20 and 25 positions, equally divided among Japan, the rest of Asia and Europe.

Erro founded Gandhara in Hong Kong—where Turiya is also based—in 2005 after leaving Deutsche Bank. He shuttered the $2.3 billion fund last year after it lost 19% in 2008, leading investors accounting for nearly a third of its assets to seek redemptions.

The new fund has been seeded by Turiya’s six-member investment team, other employees, family and friends.

Turiya—which means “pure consciousness” in Hindu philosophy—will be net long. Four-fifths of its portfolio will be bets on broad investment themes, with the rest placed in contrarian bets.

The new fund charges 1.75% for management and 20% for performance. It offers quarterly liquidity with 45-days notice; investors can withdraw one-third of their money at any one time.


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.