Azentus Capital, last year's biggest Asian hedge fund launch, has recouped its losses.
The Hong Kong-based firm, founded by former Goldman Sachs proprietary trading head Morgan Sze, is back above US$2 billion in assets, HFMWeek reports. The firm had no problem raising that much money, reaching that milestone in August, just four months after it launched. Once it was there, it closed to new investment.
But the second half of the year was not kind on the performance front, with Azentus ending its first year down 6.8%. Those losses pushed its assets down to US$1.9 billion.
However, things have taken a turn for the better this year, putting Azentus "steadily over US$2 billion," a source told HFM.
It is unclear exactly how well Azentus is doing this year.