Sunday, 29 November 2015
Last updated 1 day ago
Nov 10 2010 | 12:40pm ET
RAB Capital has pulled the plug on its last Asia-focused hedge fund.
The troubled London-based hedge fund has parted ways with its Pi investment team. The Hong Kong-based group's revenues exceeded its costs to RAB after assets in the RAB-Pi Asia Fund fell to less than US$35 million.
RAB acquired the then-independent Pi Investment Management in 2007. The firm, founded by Alain Barbezat, Caesar Luk and Nissim Tse, managed US$209 million at the time, when RAB hoped to boost its Asia-focused assets to US$2 billion.
RAB, which once managed more than US$7 billion, now manages little over US$1 billion across all of its funds.
Barbezat, Luk and Tse, along with two other members of the Pi team, left RAB two weeks ago, Bloomberg News reports. Their exit comes just after the expiration of a three-year employment agreement they signed when RAB bought Pi.
While the firm has no Asia funds at the moment, RAB is preparing to re-enter Asia with a special situations fund. A five-member team of D.B. Zwirn & Co. veterans is already advising clients as it readies the fund for launch.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…