SinoPac Plans Hong Kong Hedge Fund Admin.

Oct 31 2012 | 11:10am ET

Taiwan's SinoPac Financial Holdings is heading to Asia's most important hedge fund center to gain a foothold in the hedge fund administration business.

The investment bank plans to launch the administrator, SinoPac Solutions+Services, in December under former Citigroup executive Steve Bernstein. The new business will target smaller hedge and private-equity funds in the region, those with less than US$100 million in assets under management. Bernstein told the Taipei Times that there are more than 1,000 such funds in the region, about 85% of the Asian hedge fund industry.

"The bigger funds all have great services," Bernstein said. "The small funds either have to go to multiple providers for different services or they are getting charged a lot."

Bernstein said two new Asia hedge funds have already spoken with SinoPac about becoming clients. Bernstein said he hopes initially to bring on about one client per month.

The move comes as SinoPac also seeks a banking foothold in mainland China—it is the first-ever Taiwanese lender to win Chinese approval to launch a subsidiary. That business is also expected to get off the ground next year.


In Depth

Q&A: Pantheon’s McCrary Says Private Equity Market ‘Robust’

Dec 17 2014 | 8:32am ET

Dennis McCrary is a partner at Pantheon, a private equity firm with $32.2 billion...

Lifestyle

Cohen Donates $1.5M To GOP Governors Association

Dec 10 2014 | 7:13am ET

The Republican Governors Association raised close to $25 million from October 1...

Guest Contributor

Q&A With Daniel Gallancy: Institutional Interest In Bitcoin Is Growing Steadily

Dec 12 2014 | 7:54am ET

Daniel Gallancy is founder and CEO of SolidX, a provider of total return swaps for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.