Tuesday, 7 July 2015
Last updated 8 hours ago
Jan 24 2011 | 11:59am 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.
May 27 2015 | 2:15pm ET
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