Thursday, 25 August 2016
Last updated 18 hours ago
May 27 2011 | 11:35am ET
A new multi-strategy hedge fund firm will be the second-biggest launch of the year in Asia when it debuts this summer.
Principia Capital Advisors is expected to garner US$750 million for its launch of three strategies, including a commodity trading adviser. Hong Kong- and Beijing-based Principia will also feature equity and credit strategies, with the former being run from Hong Kong.
The firm, named for a tome by 17th century French philosopher Rene Descartes, follows the April launch of Azentus Capital by former Goldman Sachs proprietary trading chief Morgan Sze. Azentus debuted with US$1 billion and is expected to have doubled that within a few months.
Reuters reports that Hang Hu is among Principia's top executives, although his background, and the identity of the firm's backers, is unclear.