The former co-CEO of a hedge fund set up by Singapore's sovereign wealth fund has joined a private equity firm backed by the same.
Charles Ong will lead RRJ Capital with his brother, Richard. Richard Ong founded RRJ earlier this year after his China-focused p.e. firm Hopu Investment Management shut down. The new firm has raised about US$2 billion.
Charles Ong will remain a senior managing director for special projects at Temasek Holdings, where he has worked since 2002, the sovereign fund said. He stepped down as co-CEO of Temasek's US$2.9 billion Seatown Holdings hedge fund earlier this year.
Charles Ong worked at Lazard Freres & Co. and Deutsche Bank before joining Temasek; his brother worked at Goldman Sachs.