Saturday, 2 August 2014
Last updated 11 hours ago
Mar 4 2010 | 6:52am ET
A pair of former Polygon Investment Partners executives has founded a hedge fund in Hong Kong with plans to launch an event-driven fund.
Anthony Correa and Hani Abuali are the co-chief investment offers of Black’s Link Capital, Bloomberg News reports. The new firm’s investment team features five other veterans of London-based Polygon. Fred Schulte-Hillen is its chief operating officer.
Black’s Link will launch its debut Asian event-driven vehicle as soon as this month with both partner capital and outside money. The firm aims to raise US$250 million for the fund, which is targeting returns in the mid- to high-teens, by the end of the year.
The new fund will make three- to 12-month investments in companies facing mergers, leveraged buyouts, spin-offs, recapitalizations, tax changes or regulatory changes. It will aim to be market-neutral.
Correa spent five years at Polygon, setting up its Hong Kong office in 2006. Polygon closed the office last year. Correa joined Polygon from Nomura International, where he headed special situations investments in Asia. Albuali joined Polygon in 2007 from Morgan Stanley as an event-driven manager.