Gottex Acquires Hong Kong Fund Of Funds Penjing

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.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Alternative Investment Funds Face A Communications Imperative

Dec 19 2014 | 6:10am ET

A handful of the top alternative investment firms on both sides of the Atlantic...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

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.