Tuesday, 22 July 2014
Last updated 3 hours ago
Oct 8 2013 | 11:29am ET
Gottex Fund Management has set up a joint venture to seed Asian hedge funds.
The Swiss fund of hedge funds shop has joined forces with Hong Kong-based Headland Strategic. The new effort will begin seeding hedge funds next year.
Gottex and Headland, along with Value Partners co-founder V-Nee Yeh, will offer up to US$75 million to each hedge fund it backs, in an effort to have each debut with at least US$100 million. The commitment is large for Asia, where seed investments are typically around US$25 million.
The joint-venture will seed two or three new funds each year.
"The aim is for Headland Strategic to make fairly large day-one investments," Gottex co-founder Max Gottschalk told Reuters. "We want to help each fund launch with a minimum of US$100 million, a critical amount of capital for hedge funds to survive and grow in Asia."
Headland is lead by Blackstone Group veteran Michael Garrow and Goldman Sachs veteran Johannes Kaps.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…