Following its successful 2008, Rogers Investment Advisors is preparing to launch its second fund, a private equity offering focused on Asia.
The Tokyo-based firm, along with its New York-based affiliate, Wolver Hill Asset Management, is set to start a p.e. fund investing in asset managers in Asia, Bloomberg News reports. The Wolver Hill Asia Emerging Manager Fund is set to launch on Nov. 1 with as much as US$30 million in initial assets. The fund is targeting an internal rate of return of 25% annually.
“After 2008, there is a tremendous opportunity to partner with some excellent emerging Asian managers and help them by not only adding immediately to their assets under management but also by helping them to commercialize their businesses,” Ed Rogers, CEO of Rogers Investment, told Bloomberg.
The new fund, Rogers’ first fund to invest beyond Japan, will invest in asset managers in China, Japan, South Korea, Australia and India, focusing on those firms specializing in commodities, foreign exchange and long/short equities. The fund has a US$250 million capacity.
To manage the new fund, Rogers has made a trio of hires. Rory Kennedy joins as chief operating office from Tokyo-based hedge fund United Managers Japan. Yuka Watanabe was named business manager, joining from Speedwell K.K. Japan’s hedge fund advisory business, and Masayo Fukushima will serve as executive assistant after stints with Deutsche Bank and Credit Suisse Group.
Rogers’ existing Wolver Hill Japan Multi-Strategy Fund bucked the hedge fund downturn last year, returning 6%.