Private equity firm Crescent Point Group and former CastleBay Capital Management trader Charles Stone have teamed up to launch a hedge fund.
Singapore-based Crescent Hill Capital Management will serve as Crescent Point's public markets arm, HFMWeek reports. Its first hedge fund will launch on July 1, focused on Asia.
Stone will serve as chief investment officer and portfolio manager of the Crescent Hill Asia Opportunities Fund, with Arti Hatzirodos as chief operating officer and QiQi Shi as analyst. The former most recently worked at Trader Asia after stints as CFO of Hawkesbury Capital and chief operation officer of Nator Capital, while the latter joins from Riley Paterson and is a veteran of Singapore's sovereign wealth fund.
Stone was co-manager of CastleBay's equity fund and head of research. He formerly served as head of equity research in Asia and an Asian stock manager at Galleon Group.
Asia Opportunities will debut with about US$50 million from Crescent Point's partners and clients. The long/short equity vehicle will be a concentrated macro and thematic strategy, focused on between four and six themes and putting about 70% of its assets in just three to five names. The fund has a capacity of US$750 million, but will close at US$600 million.