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Alternative Market Briefing

Hong Kong hedge fund Double Haven doubles assets to $415m due to surge of money in credit investments

Tuesday, January 29, 2013

From Komfie Manalo, Opalesque Asia – Hong Kong-based credit specialist hedge fund Double Haven Capital saw its assets jump to $415m as money continues to flow into credit investments despite earlier fears that high yield and emerging market debt may be heading towards a bubble.

In a report, AsianInvestor said Double Haven only last month launched a $200m long only credit strategy for a global reinsurance firm. It was added that the credit specialist is also planning to launch a new illiquid strategy fund that will focus on private lending and distressed position in the next few months.

Darryl Flint, CEO and CIO of Double Haven added that the new managed account platform would invest in Asia dollar-denominated corporate bonds, as well as Australian and Japanese insurers.

This will be the first time Double Haven will work for reinsurance clients since acquiring DragonBack Capital.

Double Haven acquired hedge fund platform DragonBack Capital in October last year. Prior to the acquisition, Double Haven had outsourced its operations, risk and other back office functions to the team at DragonBack.

"While the credit markets in Asia have developed significantly over the last 10 years, we believe there is still much more to be done, res......................

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