Sunday, 14 February 2016
Last updated 1 day ago
Jan 30 2013 | 12:46pm 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.