Friday, 29 August 2014
Last updated 5 hours ago
May 16 2012 | 12:36pm ET
Gottex Fund Management has agreed to buy a Hong Kong fund of hedge funds, nearly doubling its assets in Asia at a stroke.
The Swiss firm will pay an undisclosed amount of cash and up to 1.75 million Gottex shares for Penjing Asset Management. The Hong Kong firm has US$434 million in assets under management.
The combined Asia business will be called Gottex Penjing Asset Management. It will have about US$800 million in assets under management and more than 20 staffers, including Penjing founder Ronnie Wu, who will become a senior member of Gottex's executive and research committees.
"It will immediately provide Gottex with a full suite of Asia-based products and enable us to service our global clients taking exposure to the region," co-founder Max Gottschalk, who moved to Hong Kong last year, said. "At the same time, it gives us a strong presence in Asia, enabling us to engage with local clients more meaningfully."
The deal is subject to regulatory approval in Hong Kong.
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…
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 ...