Double Haven Assets Double On Long-Only Mandate

Jan 30 2013 | 1:46pm ET

With the stroke of a pen, Hong Kong hedge fund Double Haven Capital has nearly doubled its assets under management.

The credit specialist won a $200 million long-only mandate from an unnamed reinsurer, which it is running as a managed account. The new strategy focuses invests in U.S. dollar-denominated Asian corporate bonds, with a bias towards investment-grade debt, Asian Investor reports.

It is the firm's first long-only product.

The mandate and the growth of Double Haven's Asia Absolute Bond Fund have boosted the firm's assets to more than US$415 million.

Double Haven is planning to continue that growth, with a new direct-lending private equity fund planned for launch in the next few months.

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