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Alternative Market Briefing

Global Prime Partners seeks to support emerging Asian hedge fund managers

Thursday, July 25, 2013

Beverly Chandler, Opalesque London for New Managers:

Global Prime Partners, the global prime brokerage boutique which specializes in supporting emerging managers, has expanded its service capabilities into the Asian markets region with the recent hire of ex-hedge fund and family office manager Rupert Street. In an interview with Opalesque, Street explained that he had used GPP’s services in the past and so had seen the advantages of a specialist mini prime broker from the outside.

While based in Hong Kong, Street has been travelling extensively through Asia researching the hedge fund industry and in particular emerging managers in the region. "Sub-$150m there is no prime brokerage service" Street says, observing that many of the tier one prime brokers are actually looking to cull smaller and less profitable funds.

In his research process, Street has found the Asian hedge fund industry somewhat depressed and cautious. "Asia seems to have a massive divide between really good performers and big funds with decent assets under management who are able to dominate the sector but I notice that in the smaller sector thereseems to be little support for emerging managers or funds that are starting up."

The regulatory requirements of even registering a fund in Hong Kong dictate that a new manager has to have at least $1m to start with. "When you are leaving a bank or your old fund group......................

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