Wednesday, 4 May 2016
Last updated 45 min ago
Jun 24 2014 | 10:16am ET
A former Tiger Asia Management analyst is set to launch his own hedge fund next month, with backing from his former boss’ mentor.
Richard Kang’s eponymous firm, Kang Global Investors, will debut at the beginning of July with up to $50 million in seed money from Tiger Management. Tiger Global, which shut down in 2012 in the wake of an insider-trading scandal, was also backed by Tiger, where founder Bill Hwang worked under Tiger chief Julian Robertson.
Kang was an analyst at Tiger Asia, and his new firm is expected to focus on the same region, The Wall Street Journal reports.
In exchange for Tiger’s backing, that firm will receive about 20% of Kang Global’s fees in perpetuity.