Bakrie Trader Eyes Indonesia Hedge Fund Launch

Feb 10 2011 | 4:57am ET

Bakrie Group's proprietary stock-trading chief has designs on launching the second domestically-run Indonesia-focused hedge fund.

Edwin Ridwan said he hopes to launch his Amandana Capital fund within the next six months. Ridwan, who established Bakrie's equity prop. desk in November, said he is in talks with his employers about backing the new venture.

Ridwan is offering a stake in Amandana or a share of its fee revenues for between US$10 million and US$15 million in seed capital.

"I'm hoping to raise this fund, if possible, with the Bakrie Group," he told Bloomberg News. "It's tough to find seeders from the local market; most people don't even know what a hedge fund is."

It is unclear whether Bakrie will bite: The Jakarta-based firm hopes to begin managing outside capital itself through Ridwan's desk and said it planned to launch several funds targeted at foreign investors.

Amandana will invest both in companies that earn most of their money in Indonesia or have most of their assets in the country, choosing "non-Indonesian stock exchange listed companies to expand our investible universe," Ridwan explained. The fund will invest in liquid securities as it seeks to profit from "tremendous" growth over the next three to five years.

Ridwan said he hoped to raise as much as US$100 million for Amandana during its first year.


In Depth

Change In 'Accredited Investor' Definition Could Hurt Crowdfunding Space

Jul 25 2014 | 8:14am ET

The Securities and Exchange Commission is considering changes to its 30-year-old...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note