Azentus Up 11% As Assets Fall

Oct 16 2013 | 2:00pm ET

Azentus Capital Management, the largest Asian hedge fund launch of 2011, is on track to post its first double-digit return.

The Hong Kong-based firm, headed by former Goldman Sachs proprietary trading chief Morgan Sze, is up 11% through September, Bloomberg News reports. That's good enough to put the US$900 million fund ahead of most of its peers, and in line with the average Asian hedge fund, although it lags the broader markets.

Most of Azentus' gains came early in the year; the firm was up 8% in the first quarter.

Despite the strong performance, Azentus' assets have continued to slip. The firm closed the Global Opportunities Master Fund at US$2 billion just four months after it launched and managed US$1.6 billion in April. The decline has led Sze to begin fundraising again, and he attended a Goldman Sachs capital-introduction event in Singapore last week. The firm hopes to get its assets back to about US$1.5 billion, according to Bloomberg.

Azentus lost 6.8% in 2011 and gained 1% last year.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...