Saturday, 27 August 2016
Last updated 21 hours ago
Nov 26 2012 | 12:10pm ET
Troubled Hong Kong hedge fund Senrigan Capital is down one partner, who plans to launch his own hedge fund.
Kevin Kwong has left the three-year-old firm founded by former Citadel Investment Group trader Nick Taylor, the Economic Times reports. Kwong will set up a new firm, Aria Group, a family office that will run a variety of strategies, including real-estate and private equity.
One of the Hong Kong native's new strategies will be opened to outside investors later next year. Aria will debut with Kwong's own money and money from his friends and family earlier next year. It is unclear how much Aria will launch with.
Kwong was a member of Senrigan's core investment team. He formerly worked under Taylor at Citadel and Modal Capital Partners.
Senrigan last month moved US$40 million of its assets into a side-pocket. The firm is down 15% this year and has seen half of its assets disappear.