Former RBC Exec Edwards To Launch Asian Event-Driven Equity Fund

May 3 2017 | 11:13pm ET

Former Royal Bank of Canada managing director Damian Edwards is reportedly prepping a new event-driven fund that will focus on mergers and acquisitions in Asia. 

The new company, named Metrica Partners, was launched in November 2016 and expects to launch later this month with around $25 million in assets under management, Edwards said to Bloomberg in an interview from Singapore. The fund, which is launching with five associates, will focus primarily on equities and will invest roughly half its portfolio in Japan and the rest on opportunities in Hong Kong and the rest of the region, the article added. 

Edwards cited the complex inter-company relationships and cross-holdings that characterize the Asian listed securities environment as a core reason why there are more opportunities for an event-driven equity fund in Asia than elsewhere. M&A in the region has been booming, rising 126% between 2011 and 2016 to $1.2 trillion and outpacing activity in both North America and Europe, Bloomberg noted.

Prior to heading out on his own, Edwards was head of event-driven trading at RBC in Hong Kong from 2011 until 2016. Beforehand, he was a portfolio manager in Morgan Stanley’s Strategic Investment Group, also in Hong Kong, and started his career in quantitative research at Jardine Fleming in Tokyo.

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