Tuesday, 2 June 2015
Last updated 13 min ago
Jul 18 2011 | 8:39am ET
The US$3 billion hedge fund founded a year-and-a-half ago by Singapore’s sovereign wealth fund has lost its co-CEOs.
Charles Ong and Nasser Ahmad are stepping down from Seatown Holdings, The Wall Street Journal reports. Ong will remain with Seatown parent Temasek Holdings in a senior position, while Ahmad, the founder of hedge fund DiMaio Ahmad Capital, will leave the firm at the end of the year after spending his last months as an adviser.
A source told the Journal that the exits “are normal organizational changes” and won’t feature strategy changes. Seatown, which has drawn down about half of the US$2.9 billion in seed capital provided by Temasek, has returned between 15% and 17% since its launch early last year.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…