GLG Emerging Markets Managers Ready Asia Macro Hedge Fund

Apr 27 2012 | 4:51am ET

Two GLG Partners emerging markets specialists are set to launch their own hedge fund this summer.

Kelvin Woo and Joe Zhang will leave the Man Group unit to found, with a former colleague from Morgan Stanley, High Island Capital Partners in Hong Kong. The new hedge fund could debut as soon as July, Bloomberg News reports.

High Island will be an Asia-focused macro fund. In addition to Woo and Zhang, the firm will feature Tony Gravanis, who worked with Woo and Zhang at Morgan Stanley.

At the bank, Woo helped build its Hong Kong emerging markets business, and Zhang launch its Asia rate option and exotic products trading. Both men joined GLG in 2010; Woo, who began consulting for the firm in 2009, worked as a manager on its Emerging Markets Income Fund.

High Island will be just the latest new hedge fund launched in recent years by high-profile industry and proprietary trading veterans, including Myriad Capital Management, founded by former Highbridge Capital Management Asia chief Carl Huttenlocher, and Azentus Capital Management, led by former top Goldman Sachs prop. trader Morgan Sze. All told, 58 new Asian hedge funds raised more than US$4 billion last year.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of