New York Manager To Launch Southeast Asia Hedge Fund

Dec 12 2007 | 9:18am ET

One New York-based hedge fund shop is making its bets on the Southeast Asian markets, and is hoping like-minded investors will follow suit. Liger Capital Management is preparing to launch the Philippines Fund in January.

The new fund will invest 70% of its assets in the Philippines and the remaining amount in other Southeast Asian markets such as Thailand and Vietnam, according to the firm. In the Philippines, the fund will invest in 50-70 mid-to-large cap names and will seek to reduce its volatility through bets on fixed-income securities. It will also take on private equity as side-pocket investments and engage in short selling “to the extent permitted” in the region.

Liger said that the economy in the Philippines has made significant strides over the past few years. Merrill Lynch has raised its GDP growth estimates for the region to 5.8% in 2007 and 6.5% in 2008 as compared to their previous forecast of 5.5% for both years.
“We have been spending a bit of time in Vietnam, Thailand and South Korea, and I'm currently in the Philippines,” said partner David Cho. “It's been very exciting to see the progress up to now.”

Cho is responsible for the firm’s business development and will also source private equity opportunities in the region. He is joined by managing member Marc Gomberg, who will serve as a member of the firm’s investment committee focused on asset allocation, portfolio and risk management. Gomberg also founded and continues to head MG Capital Management, an investment advisory firm.

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