Hong Kong's Sharp Peak To Close After 21.5% Loss

Sep 26 2012 | 11:50am ET

Another Asian hedge fund is calling it quits, this one after less than a year in business.

Sharp Peak Capital Management debuted in October. In the ensuing 10 months, it has been punished by the very volatility it sought to profit from, with its Vega Fund losing 21.5%, including 15.5% this year through July.

Vega has about US$50 million in assets under management.

Hong Kong-based Sharp Peak is backed by DragonBack Capital Limited and is a member of its hedge fund platform. Sharp Peak was founded by former Credit Suisse executives Jean-Guy Renard and Jonathan Hodgson and former TransMarket Group employee Nils Razmilovic.

Renard left Sharp Peak earlier this year; his license with DragonBack expired in April and his name does not appear on that month's Sharp Peak newsletter.

Sharp Peak is only the latest Asian hedge fund to close its doors this year. More than 70 have done so, including Boyer Allan Investment Management, Novaterra Capital, Orvent Asset Management, Penta Investment Advisors, Pivotal Investments, Riley Paterson Investment Management, Sequence Asset Management and Tiger Asia Management.


In Depth

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

When Less is More: The Case for Concentrated Equity Strategies

Jun 1 2015 | 7:59am ET

The conventional wisdom is that wide diversification is the “holy grail,” as...

 

Sponsored Content

Editor's Note