Dymon Asia Capital and Singapore’s sovereign wealth fund have launched a new hedge-fund seeding operation.
Temasek Holdings will invest US$500 million in the program, to be run by Dymon’s Jay Luo and Ben Freischmidt. As part of the deal, Temasek will take an undisclosed minority stake in Singapore-based Dymon.
The seeder’s first investment will be in Port Meadow, a new equity long/short hedge fund planned by former SAC Capital Advisors trader Carl Vine.
“We are very excited to establish this relationship with Temasek,” Luo, a SAC veteran himself, said. “We share a long-term vision of working with the best managers and believe our proposition to managers and investors is unique.”
The relationship between Dymon and Temasek isn’t new: The SWF invested US$100 million with Dymon’s private-equity arm in 2012.