RAB Shutters Pi Asia Fund As Team Departs

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.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.