Thursday, 21 August 2014
Last updated 10 hours ago
May 31 2012 | 2:37am ET
Symphony Asset Management hopes to raise as much as US$1 billion for two Asia-focused hedge funds after an impressive run.
The Tokyo-based firm, founded in 2003 by former Goldman Sachs trader David Baran, has seen its Japan-focused SFP Value Realization Fund jump 16% this year. So it's now looking for about US$500 million in new cash for the activist vehicle, over the next two years.
But Symphony isn't stopping there: It's looking for a similar amount for its US$21 million Sinfonietta Fund, an Asia-focused macro vehicle. Sinfonietta has returned 6.8% this year after soaring 29% last year.
SFP Value currently has US$200 million in assets.
"Our Japan experience has affected our worldview," Baran told Bloomberg News. "It's timely to increase our exposure and assets as unlocking value is becoming easier with a dramatic increase of corporate actions in Japan."
Aug 4 2014 | 7:42am ET
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The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note