Former Deephaven Asia Chief Plans Hedge Fund With FCA’s Help

Oct 8 2009 | 1:23am ET

The former head of defunct hedge fund Deephaven Capital Management has won the backing of hedge fund seeder FRM Capital Advisors for his own shop.

Sanjiv Bhatia, who headed Deephaven’s Asia office, has founded Isometric Capital Management in Hong Kong. The new firm’s maiden offering, expected to debut at the beginning of September, will employ an event-driven strategy focusing primarily on equities.

Isometric’s first fund is likely to launch with between US$50 million and US$75 million in assets under management. About US$40 million of that comes from FCA, which marks the Financial Risk Management group’s first foray into Asia.

“This deal reinforces the global nature of FCA's business and is the first investment we have made outside of the US and Europe,” Neil Mason, FCA’s chief investment officer, said. “Asia is an important focus in our manager research.”

“Asian markets are changing constantly, with periods of significant volatility, as well as opportunity,” Bhatia, who worked at Deephaven for four years, added. “Our holistic approach to fundamental research across the entire capital structure, combined with a long investment history and solid risk management, allows us to have low correlation to markets and protect against downside volatility whilst capitalizing on opportunities for our investors.”

The deal with Isometric is the third announced by FCA in the last four months.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...