LIM Plans Asian Special Situations Fund

Apr 11 2007 | 8:46am ET

LIM Advisors is prepping its eighth hedge fund, hoping to raise as much as US$500 million for the Asian special situations high-yield offering.

George Long, founder of the Asia-focused hedge fund shop and the former chief investment officer at Gartmore Asia, told Reuters that the new fund will enable it to take larger positions in less liquid securities than its US$460 million flagship, the LIM Asia Arbitrage pan-Asian multistrategy fund, though it will use trading strategies developed for that fund.

Long added that he wouldn’t launch the fund if it failed to attract at least US$200 million.

LIM manages some US$825 million in its seven current funds.

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