Australian Seeder Takes Stake In Hedge Fund Regal

Jul 9 2010 | 10:45am ET

Sydney, Australia-based Ascalon Capital Managers has taken a stake in local hedge fund Regal Capital Management.

The hedge fund seeder said it bought 30% of Regal, but did not disclose how much it paid. Regal manages about US$350 million and includes Australian long/short and Asian quantitative strategies in its portfolio.

Australian bank Westpac Group bought Ascalon in October from private equity shop Kaplan Equity. The firm now has stakes in seven money managers.

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