Senrigan Wins First New Investment In Months

Aug 6 2013 | 10:16am ET

Senrigan Capital Group's free-falling assets have bounced back a bit, thanks to its first inflow since the first quarter.

The Hong Kong-based hedge fund received $13 million from an existing investor, an unidentified U.S. institution, Bloomberg News reports. That investor was already one of Senrigan's largest investors.

The vote of confidence comes in spite of continuing difficulties for the Asia-focused event-driven fund, led by former Citadel Investment Group trader Nick Taylor. The firm's Master Fund is down 14% this year, entirely due to losses suffered on the failure of Sichuan Hanlong Group's takeover bid for Sundance Resources. Without that deal's collapse, Senrigan would have returned 5% in the first half.

"Some investors indicated earlier this year that they would add to the fund if they saw positive developments," Suzi-Kay Jacoel, Senrigan's investor-relations officer, told Bloomberg.

The new investment pushed Senrigan's assets under management over US$280 million, down from US$500 million near the end of last year and US$1 billion in 2011.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...