Thursday, 5 March 2015
Last updated 4 hours 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…