Ex-Elliott Asia Managers To Launch $100M Special Situations Fund

Jul 11 2014 | 7:23am ET

A pair of Elliott Management veterans will seek US$100 million for a new Asia-focused special-situations hedge fund.

Ark Pacific Capital Management will invest in private convertible bond issues and pre-initial public offering companies, as well as make direct loans, Bloomberg News reports. Firm founders Kenneth Ng and Arthur Lau plan to tap opportunities too small for Elliott and to offer their clients co-investment opportunities.

The Hong Kong-based firm will focus on Greater China initially, although it will also look at South Korea and Southeast Asia.

Ark hopes to raise US$50 million by the fourth quarter, drawing down commitments as necessary, like a private-equity fund. It will also impose a three-year lockup to facilitate its p.e.-style investments.

Ng and Lau will serve as co-chief investment officers, with the former running the firm and managing partner and the latter focusing on fundraising and deal-sourcing. The two worked together for six years at Elliott—both covering Greater China—until their departures in January and October, respectively.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...