FrontPoint Asia Event-Driven Team Plans Relaunch

Jan 5 2012 | 3:35pm ET

The demise of FrontPoint Partners has given new life to another hedge fund.

John Foo, who co-managed FrontPoint's now defunct Asian Event Driven Fund, plans to relaunch his Kingsmead Capital in March. Foo put Kingsmead on ice in 2009, when he and the firm's team joined FrontPoint. But the group left FrontPoint last year after it pulled the plug on their fund.

The reborn Kingsmead will feature members of FrontPoint's Singapore trading and back-office desk, Reuters reports. Foo also said he plans to hire two more analysts and to open a research office in Hong Kong this year.

The Kingsmead Asian Alpha Opportunities Fund is expected to debut on March 1 with US$50 million. The fund's capacity is about 10 times that figure, Foo said.

The Asia ex-Japan long/short fund will offer fee discounts to early investors, which Foo hopes will help him transcend a difficult capital-raising environment, especially in Asia. Foo said Kingsmead is in "advanced discussions with a few parties" about investing in a "founder class" with lower fees.

Despite fears that 2012 could be a difficult one for Asia, Foo says he sees plenty of money-making opportunities.

"If we are able to pick up 20 to 25 situations that are under-researched, good value, good management… I think that would be a wonderful opportunity," he told Reuters.


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