Tiger Backs Nezu Asia, Seeds Two Funds

Jan 24 2011 | 12:59pm ET

Just because Julian Robertson appears to be preparing to relaunch his legendary hedge fund Tiger Management does not mean he'll stop seeding his former protégés.

Tiger has agreed to pour US$50 million into a pair of funds run by Nezu Asia. The two funds are managed by Tiger veteran David Snoddy and Sohei Taki. Both men will work at Tiger's offices in New York.

The seed capital will bring the Neza Asia Fund's assets up to US$100 million and the Japan-focused Nezu Kuma Fund up to US$25 million, Reuters reports. Unlike many of Robertson's previous investments with Tiger cubs, this one isn’t with a startup: Hong Kong-based Neza Asia is more than a decade old and had more than US$1 billion in assets under management three years ago, but now manages about US$400 million.

The firm hopes that its link with Tiger will help it double that figure by the end of the year, and it plans to add a marketing executive in New York. The firm currently employs 28 in Hong Kong, Singapore, New York and Japan.

"We anticipate that our strategic partnership with Tiger will improve our ability to access capital and strengthen our entire suite of funds," Richard Kincaid, chief operating officer, told Reuters.


In Depth

AIMA: Smaller Firms Remain the Lifeblood of the Hedge Fund Industry

Jul 26 2017 | 5:55pm ET

It is a hedge fund industry truism that the largest managers receive the most attention...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of