Tuesday, 23 September 2014
Last updated 6 hours ago
Oct 11 2007 | 10:15am ET
Hong Kong-based brothers Otto and Dio Wong have left their secure jobs at bulge bracket banks and are striking out on their own with a new hedge fund firm. The pair recently founded Three Kingdoms Capital and, with backing from private equity fund MD Sass-Macquarie Financial Strategies, they are gearing up to launch a concentrated long/short strategy early next year.
“This is a very talented group of portfolio managers and they’ve been managing family money for years with very strong records,” said a source with knowledge of the deal. “The strategy is a concentrated long/short equity portfolio focused in Asia, largely in China, Taiwan and Hong Kong. Their portfolio has somewhere in the range of 10 securities so it is very concentrated with high convictions.”
Otto previously worked for Citigroup in Hong Kong as head of equity research in Asia, and Dio worked at Merrill Lynch as a buy-side strategist. The pair is relocating to Singapore to launch the Three Kingdoms fund, which charges fees of 2% for management and 20% for performance with a $1 million minimum investment requirement.
This is the seventh seeding deal for the $273 million M.D. Sass-Macquarie Financial Strategies private equity fund. The fund also recently seeded an Aussie natural resources private equity fund dubbed the Taurus Fund, designed to invest in mining concerns in Africa, Asia and Latin America.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.