Thursday, 2 April 2015
Last updated 12 hours ago
Nov 13 2012 | 12:04pm ET
Woori Absolute Partners has joined forces with a French firm to redouble its seeding efforts in Asia.
The Singapore-based arm of South Korea's Woori Investment & Securities and hedge fund incubator NewAlpha Asset Management will raise US$200 million for a seeding joint-venture. The business, which debuted on Nov. 1, will seek out Asian funds that are desperate for new capital—but have found the fundraising environment difficult.
"This is very much a supply and demand imbalance," Woori Absolute co-founder Edward Moon told Reuters. "We see a lot of great supply but the demand in terms of capital chasing that supply has really dwindled and we think that is a great opportunity."
The first beneficiaries of the effort could come in the first quarter, when the j.v. plans to deploy about $25 million to two of the more than 150 firms Woori and NewAlpha have looked at.
The two firms have put up US$50 million themselves and are now fundraising in Asia and Europe.
The new venture is not the first partnership between Woori and NewAlpha: The two firms launched an Asia-based emerging hedge fund seeding fund last summer.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…