Saturday, 1 August 2015
Last updated 18 hours ago
Mar 2 2011 | 10:00am ET
Another Asia chief of another top hedge fund is striking out on his own.
Meng Liang, D.E. Shaw Group's Greater China CEO, has resigned from the New York-based hedge fund giant. Along with former Goldman Sachs partner Kevin Zhang, Meng plans to launch a China-focused private-equity firm.
Meng and Zhang hope to raise some US$500 million for their new firm's first fund, Reuters reports. The two have already won commitments from some of the Chinese businessmen whose ventures they invested in while at D.E. Shaw and Goldman.
Meng joined D.E. Shaw as its first Chinese partner in 2007, helping to set up its Hong Kong-based Greater China business. Prior to joining the hedge fund, he was a member of JPMorgan Chase's mergers & acquisitions team in Asia.
Zhang was a partner at Goldman and co-head of its special situations group in Asia from 2005 through 2009.
Meng's exit from D.E. Shaw, which has been announced internally, follows the departure of Carl Huttenlocher from Highbridge Capital Management. Huttenlocher, the manager of Highbridge's Asia Opportunities Fund, is planning to launch a hedge fund.
May 27 2015 | 2:15pm ET
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