Japan's Symphony Seeks To Quintuple Assets

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."

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