Sun, Jun 24, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Ex-Mizuho credit strategy hedge fund manager Yap nets $100m seeding to launch Asian fund

Friday, June 07, 2013

By Beverly Chandler, Opalesque London:

Ex-Mizuho star credit strategy manager Jeffrey Yap is to launch an Asian multi-strat fund, focussing on Asian credit strategies, long/short credit, bonds and private debt. The fund is an Asian-focus fund but will have the ability to invest globally where it sees fit.

Yap is launching with a commitment of $100m in seed capital from an unnamed seeding source. $50m arrives on day one, and the remainder within the year. The fund will be prime broked by Goldman Sachs and Merrill Lynch. Yap is currently on gardening leave from Mizuho but is putting together a team of five to support him in his new business.

In an interview with Opalesque, Yap said: "There seems to be more interest in Asian credit in general at the moment. It is somewhat in the infancy stage but it has grown over the last couple of years. Asian credit used to be seen only in a hard currency perspective in US dollars for instance, but post-Lehman the local currency market has grown in size and the borders between offshore and onshore have come down a bit."

Yap is targeting returns of 15% over LIBOR for the fund but admits that personally he will be happy with anything above 10% over the long term. "It’s an aggressive target" he says, "but Asian credit presents a good opportunity for investors to take advantage of the onshore and offshore market."

......................

To view our full article Click here

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. Paper: The performance of stocks actively pitched by hedge funds[more]

    Using a novel dataset drawn from investment conferences from 2008 to 2013, I show that hedge funds take advantage of the publicity of these conferences to strategically release their book information to drive market demand. Specifically, hedge funds sell pitched stocks after the conferences to ta

  2. North America - US fundraising for special purpose acquisition vehicles hits record this year[more]

    From AFR.com: Special purpose acquisition vehicles (spacs) are hitting the US market at the fastest rate on record, attracting the likes of Goldman Sachs and hedge fund investor Daniel Loeb for the two largest such deals in 2018. Spacs have raised $US4.5bn so far in 2018, the largest amount fo

  3. Investing - Man Group and AQR try to take aim at private equity industry, Hedge funds poised to be winners in AT&T-Time Warner deal[more]

    Man Group and AQR try to take aim at private equity industry From FT.com: The popularity of private equity investments has prompted asset managers such as Man Group and AQR to devise strategies that aim to replicate PE returns but at a much lower cost to investors. Both companies a

  4. News Briefs: David Stemerman's hedge fund holdings shrank before his run for governor, nvestment manager TSW triggers succession plan, Alan Howard joins Peter Thiel investing in Cologne-based fintech startup[more]

    David Stemerman's hedge fund holdings shrank before his run for governor But the U.S. holdings of Stemerman's Greenwich hedge fund, Conatus Capital, shrank from $2.6 billion at the apex to just over $1 billion before he announced his move into politics. (Hartford Courant) Inv

  5. British Empire: Pershing's 23% discount 'unsustainable'[more]

    From Citywire: The wide discount on Pershing Square Holdings (PSH) is 'unsustainable' and puts star hedge fund manager Bill Ackman under pressure, says British Empire (BTEM). Pershing is the third largest holding in the £850 million British Empire trust, managed by Joe Bauernfreund, which sp