Thu, Apr 24, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Woori and NewAlpha launch Asia hedge fund-focused seeding fund

Monday, November 12, 2012

From Benedicte Gravrand, Opalesque Geneva: - A Singapore-based alternative investment manager and a Paris-based funds incubator are launching a seeding fund to invest in Asian hedge funds, after partnering in June 2011.

Woori Absolute Partners (WAP) is raising a $200m seeding fund with NewAlpha to invest in Asian hedge funds looking for backers, according to a report from Reuters.

NewAlpha just confirmed to Opalesque that the fund has indeed been launched.

WAP announced its strategic partnership with NewAlpha in June 2011. Both firms are both co-seed investors in the Singapore-based Asian credit hedge fund Blue Rice Investment Management and this common investment helped them establish this new venture.

The seeding fund was launched on Nov. 1. The partners are rasing capital from Asian and European investors, after initially injecting $50m into the fund and spending the last 18 months screening more than 150 Asian hedge funds. Two funds could receive around $25m each in the first quarter of 2013.

"This is very much a supply and demand imbalance," Edward Moon, co-founder and CIO of Woori Absolute Partners......................

To view our full article Click here

Banner
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. …And Finally – Flight attendant has passengers rolling in aisle[more]

    From Orange.co.uk: A video of a US flight attendant turning her safety talk into a comedy routine is proving a huge hit online. More than five million people have watched the clip of Marty Cobb which has her passengers rolling with laughter on a Southwest Airlines flight to Salt Lake City.

  2. Niche Investing – Wealthy investors flock to fine art funds[more]

    From Clickorlando.com: Wealthy investors looking to diversify beyond stocks and bonds are now turning to an unusual money-making vehicle -- the art investment fund. The name says it all: These funds invest in fine art and seek returns by acquiring and selling high-end pieces for profit. Growth

  3. Opalesque Exclusive: Rainwater and Blue Sky - an Australian water fund emerges[more]

    Bailey McCann, Opalesque New York: Financial reporters often tout new funds and investments as uncorrelated investments, but few can say they are uncorrelated to everything but weather. Enter Blue Sky Alternative's water fund which invests in the permanent rights to Australia's water. Sev

  4. University of Michigan allocates $242m to six managers[more]

    From PIonline.com: University of Michigan, Ann Arbor, invested or committed a total of $242 million to one traditional equity manager and five alternative investment funds from its $9 billion endowment. University regents approved the hire of Mittleman Investment Management to run $35 million in act

  5. Performance – Odey flagship hedge fund suffers brutal March as shorts rise, Blackstone first-quarter profit rises 30% on higher fees[more]

    Odey flagship hedge fund suffers brutal March as shorts rise From Valuewalk.com: The tide has turned for the worse for one of Europe’s best performing hedge funds. Crispin Odey’s flagship hedge fund, Odey European has suffered a 4.63% decline for the year after slipping 7.2% in March, ac