Ex-Och-Ziff Manager To Launch Japan Long/Short Hedge Fund

Mar 9 2011 | 12:39pm ET

An Och-Ziff Capital Management veteran and a former Instinet trader in Tokyo are preparing to launch a Japanese large-cap hedge fund, with backing from Wolver Hill Advisors.

Siena Capital's Carnico Japan Fund will debut next month, Bloomberg News reports. Chris Redl has been managing the long/short strategy since last year, earning 10% returns from April through August, he said.

Carnico, a portmanteau of the names of Redl's sons Carlo and Nico, will invest primarily in Japanese stocks enjoying heavy trading volume, generally averaging at least US$10 millions' worth every day over the past three months. The fund's portfolio will consist of between 50 and 70 names.

Redl will also rely on his own contacts with Japanese companies, of which he visits about 200 per year.

"I have to have the word from the horse's mouth in order to invest with conviction," he told Bloomberg. "Japan has its reputation of being a laggard in Asia, but we actually think it's a great market to invest in—in terms of liquidity, long and short, this is the best market in Asia."

The new fund will launch with between $20 million and $30 million in initial assets. Much of that money will come from anchor investor Wolver Hill, a New York-based firm with a long history of investing in Japanese hedge funds.

Singapore-based Siena is headed by Redl as managing partner and Dean Kimpton as chief trader. Redl was a portfolio manager at Och-Ziff until 1999, while Kimpton was a sales trader for Instinet in Japan.


In Depth

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Griffin Selling Chicago Apartment

Nov 26 2014 | 11:40am ET

Citadel Investment Group’s Kenneth Griffin is making clear to his estranged wife...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.