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

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...