Fri, Apr 20, 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. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its