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Singapore hedge fund manager Blue Rice partners with Paris-based incubation specialist NewAlpha

Wednesday, May 11, 2011
Opalesque Industry Update - Blue Rice Investment Management (BRIM) is pleased to announce its strategic partnership with NewAlpha Asset Management, the Paris-based global hedge fund incubation specialist with an investment into the BRIM Asian Credit Fund as of 1st May 2011.

Launched in December 2009, BRIM Asian Credit Fund implements an actively managed, absolute return, Asian credit focused strategy, covering both high grade and high yield securities. The Fund invests primarily in US$ denominated Asian debt securities issued by sovereign, financial and corporate issuers. It avoids local currencies, single name equities and defaulted securities.

The BRIM Asian Credit Fund is managed out of Singapore by a team of 6 investment professionals led by Guan Ong, who benefits from a deep Asia knowledge and 20+ years’ experience including managing Asian credit portfolios for significant institutions, namely Prudential in Korea, Singapore and Hong Kong (1998-2006) and Korea’s sovereign fund, Korea Investment Corp (KIC), where Guan Ong was its Chief Investment Officer from 2006 to 2009.

BRIM’s guiding investment philosophy is based on a rigorous bottom up analysis of credit fundamentals driven by an experienced internal credit research team.

As an asset class, Asian credit offers very attractive prospects to investors due to strong creditworthiness of governments, households and private sector, steady long term growth drivers and a limited impact from the recent global credit crisis.

BRIM entered in its first partnership with Woori Absolute Partners (WAP) in 2009. WAP is a wholly owned subsidiary of Woori Investment & Securities, which is listed on the Korean Exchange (KRX) and is an affiliate of the Woori Financial Group, which is listed on the KRX and the NYSE. The Woori Financial Group is Korea’s largest financial concern by total combined assets.

(press release)

Blue Rice Investment Management (BRIM) is based in Singapore and has an exempt fund manager status with the Monetary Authority of Singapore. BRIM was set up by Guan Ong, previously the CIO of Korea’s sovereign fund, Korea Investment Corp. Prior to KIC, Guan was with Prudential in Korea, Singapore and Hong Kong between 1998 to 2006 managing Asian bond portfolios. Between 1990 to 1996, he worked for Credit Suisse, London and then joined Lehman Brothers Hong Kong. He has a PhD from Imperial College in London, England. In 2010, BRIM received the Best Hedge Fund – New Launch Award from Asian Investor. Between 2001 and 2004, Guan received the Most Astute Bond Manager Award from The Asset.

NewAlpha Asset Management was established in 2003 to provide access to emerging alternative investment managers to institutional investors through private equity style funds of funds. Since inception, NewAlpha has entered into 16 strategic partnerships and invested a cumulative US$650 mn with early stage managers. NewAlpha’s presently partnering managers have more than US$1,400 mn under management, after receiving US$150 mn in strategic capital from late 2008 to mid 2010. NewAlpha has recently achieved the initial closing of its 4th vintage seeding vehicle with US$160 mn, that will be deployed into emerging managers in 2011/2012.Last November, NewAlpha received the Best Seeding Platform Award at the Hedge Fund Review 2010 European Funds of Hedge Funds Awards.

NewAlpha Asset Management is a subsidiary of OFI Asset Management, a leading asset manager that enjoys a solid reputation as a firm noticed for its creativity and its resolute focus on absolute performance. OFI AM has more than €49 billion under management.


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