Blackhorse Saddles Up New Asian L/S Tech Fund

Jun 11 2007 | 2:56pm ET

Singapore-based Blackhorse Asset Management is launching a long/short Asian technology fund on July 1 with some $20 million in initial equity. Dubbed the Blackhorse Early-Stage Technology fund, the fund will invest in small-to-mid cap Asian tech companies, as well as illiquid pre-IPO candidates via a side pocket.

According to fund documents, the Asian tech industry has underperformed its non-tech counterparts for the past three years and Asian tech valuations are currently low in relative and absolute terms. The pre-IPO Asian market is becoming active as liquidity events such as listings, M&A and buy-out activity become more prevalent across the region and better liquidity and transparency in pre-IPO markets helps “to create a virtuous circle with respect to pre-IPO value realization.”

The fund has a gross limit exposure of 180% and the target net range is –20/+120%. Its target return is more than 25% per year, with volatility of 10% to 15%. It will hold 25 to 40 positions in its portfolio.

The fund comes in two share classes: A shares (no side pockets) and B shares (with side pockets). It charges fees of 1.74% for management and 20% for performance, with a minimum investment requirement of US$100,000. There is monthly liquidity with 30-days notice and there is a one-year lockup.

Blackhorse was founded in October 2001 and currently manages some US$500 million. The firm currently manages an Asia ex-Japan long/short fund, an Asian long-only fund and a Vietnam-focused long-only fund.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

July/August 2014 Cover

The time was right

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 ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.