Saturday, 30 August 2014
Last updated 1 day ago
Jun 28 2011 | 9:26am ET
Hong Kong’s Sunwah financial group plans to buy the Energy and Octane funds from troubled hedge fund manager RAB and may also pick up an 80% stake in the hedge fund platform PCE Investors.
Reuters reports that Sunwah International, backed by the Choi family, has agreed to buy the RAB funds, which have about $300 million in assets. RAB announced last week it would be de-listing in the wake of serious, post-crisis redemptions.
The group is also eyeing a majority stake in PCE, a platform providing infrastructure to startup hedge funds which has seen its assets fall from $1.6 billion in 2009 to $550 million.
"These transactions provide confirmation of Sunwah's business plan to become a leading global funds platform," Sunwah CEO Doug Betts said in a statement.
Reuters cites a source “familiar with the matter” as saying Sunwah has found an Asian-based asset manager to put $50 million in the Energy and Octane funds (to be renamed Sunwah Energy and Sunwah Octane) and to provide $200 million to replace money withdrawn by investors who choose to cash out.
The Sunwah Group is a large conglomerate that includes seafood, real estate and technology.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...