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Komfie Manalo, Opalesque Asia for New Managers:

Blue Pool Capital is in the final stage of negotiations to seed a new pan-Asia hedge fund to be launched by former Balyasny Asset Management Asia head Avinash Abraham, Bloomberg reported. Blue Pool is known to invest billions of dollars for wealthy investors including two founders of Chinese e-commerce website Alibaba.

Abraham, who until early this year worked for Balyasny, has established the Torq Capital Management (HK) and is planning to launch his hedge fund in November. The hedge fund will employ a market neutral strategy and will bet on rising and falling stocks.

However, the report did not provide how much money Blue Pool will invest in the new hedge fund as well as the size and terms of the investment.

If the deal with Abraham pushes through, Torq would be the second fund to be seeded by Blue Pool in Asia. In 2014, Blue Pool committed a big chunk to the $100m raised by Pinyin Capital Management Hong Kong, led by former SAC Capital Advisors manager Andrew Bazarian. Like Pinyin, Torq is also expected to run independently from Blue Pool.

Abraham will act as the fund manager for Torq and is planning on hiring more managers later this year.......................

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