Friday, 24 April 2015
Last updated 4 hours ago
Oct 8 2010 | 11:15am ET
Off to a fast start, hedge fund Kima Capital Management is having no trouble attracting investors.
The year-old Melbourne, Australia-based firm has quintupled its assets under management to US$40 million since the debut of its Pan Asian Long/Short Equity Fund last July. The firm has focused its fundraising efforts on smaller funds of hedge funds and family offices, rather than the larger Australian pension funds.
"At present, we may be seen to be a bit too boutique for the Australian superannuation industry," CEO Michael Gallagher told Bloomberg News. "Nor do we have the long track record."
What track record it does have is impressive. The fund returned 14% during the second half of last year, and is up 17% this year through August. Gallagher said that new commitments and bigger allocations could boost the firm's assets by a further quarter by next month, to US$51 million.
Kima was founded by former Marble Bar Asset Management portfolio manager Justin Klintberg.
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…