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

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of