CLSA Plans Job Cuts For Hedge Fund Biz, Mulls China P.E. Fund

Dec 16 2008 | 3:49am ET

CLSA Asia-Pacific Markets is cutting back on its hedge fund-related businesses, the investment bank says.

"In some places like Australia and China, we plan to increase our investments and staff for new services to be launched next year," C.G. Wu, China chairman and Asia vice chairman, told Reuters. "But in other areas like hedge fund-related business, we plan to shed staff due to the decline in sales from the hedge fund industry, which is facing big pressure from redemptions,"

Wu did not offer specifics on how many employees might lose their jobs.

Meanwhile, Wu said CLSA hopes to launch an onshore private equity fund in the first quarter of the new year.

"We are certainly interested in setting up an onshore renminbi fund in China, which is like a China passport for a foreign investor, allowing you to do deals more easily," Wu said. "We are considering different ways and this matter is also subject to Chinese regulators, who I think do welcome foreign investments to support the country's economic growth.”


In Depth

Will Liquid Alts’ Performance Sustain Future Asset Flows?

Aug 25 2014 | 10:34am ET

Liquid alternative investment funds saw the highest percentage of capital inflows...

Lifestyle

Hedgies, Economists and Musicians Mingle At Milkin Mixers In Hamptons

Aug 25 2014 | 6:00am ET

Leave it to Michael Milken to bring some gravitas and sweat to the Hamptons -- along...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.