Friday, 22 May 2015
Last updated 8 hours ago
Oct 20 2010 | 3:02am ET
Asia’s second largest hedge fund manager is launching a new fund that seeks to profit from the region’s growth, as it refocuses on its home region.
“We want to become an Asian firm,” CEO Shuhei Abe told Bloomberg News of the US$8.5 billion firm, which has closed its U.S. and U.K. businesses and sold a Hong Kong business over the past two years. One way it plans to do so is with the new Asia long/short fund, which “will be looking for Asia’s winners.”
Sparx aims to launch the fund in the first quarter. It hopes to raise between US$200 million and US$300 million within a year. The Tokyo-based firm has already set up a team of managers and analysts for the fund, which will focus on green technologies, agriculture and food.
Abe said that Sparx is also planning a long-only fund, and that its new Sparx Smart Grid Fund, which invests in green Japanese technology companies, is poised to win a US$200 million mandate from an overseas investor.
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…