Saturday, 23 May 2015
Last updated 14 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…