Tuesday, 5 May 2015
Last updated 1 hour ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…