Goldman Trader Plans Hybrid China-Japan Hedge Fund

Nov 27 2013 | 11:49am ET

A former Goldman Sachs trader is set to launch a new hedge fund that will invest in both China and Japan.

Andrew Wang has set up Redstar Auspicious Capital Management in Hong Kong, winning a license from the city's regulator last week, Reuters reports. Wang hopes to raise between US$50 million and US$100 million for the new fund.

Redstar is set to roll out its maiden fund early next year.

Wang is targeting annual returns of 20% for Redstar, which will be one of only a handful of hedge funds to invest in both China and Japan. Wang himself is Chinese and speaks Japanese fluently.

"We believe that both China and Japan, the No. 2 and No. 3 economic powers, are structurally positioning a turning point—a de-leverage cycle and re-leverage cycle, respectively," Wang wrote in a marketing document. "The structural changes are likely to provide big investment opportunities, both on the long side and short side."

Wang, who left Goldman earlier this year, has hired Shiba Tsuyoshi, the former chief investment officer at Triskele Capital Management, to serve as head of research at Redstar.

Wang was a proprietary trader in the Asian shares trading department at Goldman. He formerly worked at Nikko Asset Management and ran the first China A-shares mutual fund.

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