Ex-Mizuho Star To Launch Asia-Focused Credit Fund

Jun 6 2013 | 11:31am ET

A former top Mizuho Financial Group trader is set to launch a multi-strategy credit hedge fund with US$100 million in seed capital.

Jeffrey Yap is currently on gardening leave from Mizuho, but when the period ends, he'll launch the Asia-focused fund with US$50 million from an unnamed investor. The other half of the seed money will come later in the year, Opalesque reports.

"There seems to be more interest in Asian credit in general at the moment," he said. "It is somewhat in the infancy stage but it has grown over the last couple of years. Asian credit used to be seen only in a hard-currency perspective in the U.S., but post-Lehman the local currency market has grown in size and the borders between offshore and onshore have come down a bit."

Yap is building a five-person team to work with him at the new hedge fund, which will target annual returns of 15% over the London Interbank Offered Rate.

"It's an aggressive target," he concedes, "but Asian credit presents a good opportunity for investors to take advantage of the onshore and offshore market."

Goldman Sachs and Merrill Lynch will serve as Yap's prime brokers.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note