Former PIMCO PM Planning To Launch Two Credit Hedge Funds in Hong Kong

Feb 10 2017 | 9:47pm ET

Former PIMCO portfolio manager Han Tongli is reportedly prepping the launch of two new hedge funds in the first quarter that will focus on credit instruments.

The new funds, one focused on global opportunities and one on Asia, will be part of Tongli’s new asset management firm, Hong Kong-based DeepBlue Global Investment, according to a Bloomberg article Friday citing an unidentified individual familiar with the matter. At least three investors have agreed to seed the new funds with an aggregate $500 million, the article said.

DeepBlue will utilize fixed-income, rate-based, commodity and currency instruments to reflect a broader macro view, something of a rarity in Asia, Bloomberg continued. The funds will have a long bias and invest in speculative and investment-grade credits in a range of currencies and assets, and will be also be able to trade ETFs and equity index derivatives. 

Han was CIO of fixed income for the FICC unit of Chinese conglomerate Fosun Group until mid-November of last year. He joined Fosun from Bank of Communication International in Hong Kong, where he was head of fixed income in the asset management division from April 2012 to October 2014, and was an emerging markets portfolio manager for PIMCO from January 2008 to February 2011. 

While at PIMCO, he was one of only six emerging-market fund managers running some $150 billion of assets, according to Bloomberg. 

DeepBlue’s license with Hong Kong’s Securities and Futures Commission became effective on January 13, according to regulatory filings. According to the SFA, Han is joined in the new venture by Roy Kwok, a fellow Fosun vet who previously held roles with the Asian affiliates of Lehman Brothers, Neuberger Berman and Nomura.

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