The executives behind Hong Kong-based alternative investments firm Gen2 Partners have gone their separate ways.
Managing directors Paul Heffner and Barry Lau have spun out the bulk of the firm and named it Adamas. They will focus on private equity and hedge fund seeding.
Kyle Shin, a fund manager at Gen2, will retain the firm's existing name, its KS Asia Absolute Return Fund, seven other staff members and about US$180 million in assets. Gen2 declined to confirm the AUM.
Following the split, Adamas has 22 staffers and US$320 million. Ademas' private equity business focuses on offering mezzanine capital to small and medium-sized companies in China.