Saturday, 25 June 2016
Last updated 15 hours ago
Mar 3 2010 | 8:57am ET
Galleon Group’s former top man in Singapore has joined CastleBay Capital Management.
Justin Pollock and his Galleon team, which includes head of research Charles Stone, will run the new CastleBay Asia Long/Short Equity Fund. The new vehicle will debut on April 1, Bloomberg News reports; Pollock’s long/short equity fund at Galleon returned almost 35% last year.
Pollock would not say how large the fund will be, but he told Bloomberg that it would invest across Asian markets, using both fundamental and trading strategies. The liquid fund is targeting annual returns in excess of 20%.
Galleon’s Singapore office, which boasted 20 employees, closed at the end of last year, less than three months after Galleon founder Raj Rajaratnam was arrested and charged with insider-trading. Pollock opened the office in early 2008, five years after joining Galleon from Pequot Capital Management. Talks with Fortress Investment Group and several other firms interested in acquiring Galleon’s Singapore business came to nothing.
CastleBay was founded in 2008 by Julian Reis, former head of Tudor Investment Corp.’s Singapore operations. Reis is also a co-founder of BlueGold Capital Management.