Hong Kong's Steadview Soars, Eyes New Millions

Aug 4 2011 | 1:42pm ET

Having almost doubled its investors' money over the past two years, Steadview Capital has launched a fundraising campaign to triple its assets under management.

Ravi Mehta, the founder of the US$33 million Hong Kong-based fund, told Reuters he'd like to be managing US$100 million within the next year. So far, increasing Steadview's assets under management by such multiples hasn't proven a problem, no doubt owing to its 92% return since its inception in July 2009.

Steadview, which was seeded by former Goldman Sachs (Asia) chairman and Soros Fund Management CEO Mark Schwartz, has increased its assets five-fold this year already. The fund, which managed just US$500,000 at launch, was running only US$1.8 million as recently as a year ago.

Mehta, formerly an analyst at Maverick Capital Management, said that Steadview is beginning to attract the interest of larger investors.

"We are just now hitting a point where funds of funds could invest," he told Reuters. "We are currently in later-stage discussions with some funds of funds, and are receiving interest from endowments and even insurance firms."

Steadview is a high-conviction, no-leverage vehicle, typically investing in between 12 and 15 ideas. The fund returned 38.6% in the year-ended June, and is up 12.9% in 2011 through July.


In Depth

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Opportunities Ahead: Asian Fixed Income and Currency Markets

Apr 24 2015 | 6:18am ET

For hedge funds focusing on Asia, the policy uncertainty, unclear interest rate...

 

Editor's Note