NewAlpha Seeds Korean Investment Corp Vet’s Bond Fund

May 12 2011 | 11:47am ET

NewAlpha Asset Management, a Paris-based global hedge fund incubator, has invested in Blue Rice Investment Management’s Asian Credit Fund—a bond fund established in December 2009 by former Korean Investment Corp CIO Guan Ong.

The value of the investment was not revealed, but is believed to be in the $20 million-range.

The fund implements an actively managed, absolute return, Asian credit-focused strategy, covering both high-grade and high-yield securities. The fund invests primarily in US$-denominated Asian debt securities issued by sovereign, financial and corporate issuers. It avoids local currencies, single-name equities and defaulted securities.

The fund is managed out of Singapore by a six-person team led by Ong, who was CIO of Korea’s sovereign fund, Korea Investment Corp, from 2006 to 2009.

BRIM has also attracted investment from Woori Absolute Partners, an affiliate of the Woori Financial Group, Korea’s largest financial concern by total combined assets.

NewAlpha Asset Management was established in 2003 to provide access to emerging alternative investment managers to institutional investors through private equity style funds of funds. Since inception, NewAlpha has entered into 16 strategic partnerships and invested a cumulative US$650 million with early stage managers.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...