Former Soros Employee Sets Up Hedge Fund In Hong Kong

Jul 18 2013 | 6:32am ET

A former employee of Soros Fund Management has hung out his own hedge fund shingle in Hong Kong.

Nicholas Zhang, the son-in-law of one of China’s four vice premiers, Wang Yang,  recently founded Magnolia Capital Management with former colleagues from Soros and UBS, reports the South China Morning Post.

Last year Zhang worked briefly at billionaire George Soros’ family office in Hong Kong, following a stint as a junior investment banker at UBS.

The new fund launched two months ago with " tens of millions of US dollars" a source told the paper.

Magnolia Capital Management focuses on investing in Hong Kong-listed stocks.

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