Treesdale Launches $20 Million Emerging Markets Macro Fund

Sep 14 2012 | 1:24pm ET

A former Tiger cub and two Barclays veterans have joined to launch an emerging markets macro fund at Treesdale Partners.

Treesdale has hired Yoon Chang, formerly of Tiger Management, former Barclays trader Ashley Honey and former Barclays Capital foreign-exchange structuring chief Ade Odunsi to run the Treebrook Macro Fund. The new vehicle debuted on Wednesday with $20 million in initial capital.

The emerging markets-focused fund employs a global macro strategy, primarily trading interest rates and currencies, Hedge Funds Review reports. Chang and Honey are co-managers, the former handling fundamental, longer-term trading, and the latter short-term forex deals, while Odunsi will focus on risk and managing options overlay strategies.

"The big macro theme currently is global growth moderation and flattening of yield curves, particularly in the emerging markets," Odunsi told the magazine. "A lot of the emerging market countries are in reasonable fiscal shape from a fundamental perspective. We think the days of emerging markets getting crushed as global growth slows are over and that yields will come down from here."

The new fund has a $500,000 minimum investment requirement and charges 2% for management and 20% for performance. UBS is its prime broker and SS&C Technologies its administrator.

Chang was most recently a portfolio manager at Lily Pond Capital Management. He started his career at Morgan Stanley before moving to Tiger, and in 2002 co-founded his own hedge fund, Emerging Sovereign Group, with backing from Tiger founder Julian Robertson. ESG is still around and now manages $5 billion.


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Ex-Hedge Fund Billionaire Won’t Run For Senate

Jan 23 2015 | 5:48am ET

Ex-hedge fund manager Tom Steyer will not run for Senate after Sen. Barbara Boxer...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note