Mon, Apr 23, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Double Haven acquires DragonBack Capital

Tuesday, October 23, 2012
Opalesque Industry Update: Double Haven Capital Management (Hong Kong) Limited has announced their acquisition of the hedge fund platform, DragonBack Capital Limited.

Prior to the acquisition, Double Haven had outsourced its operations, risk and other back office functions to the team at DragonBack. These functions will now all be in-house with the same team joining Double Haven. As a result of the acquisition, the Double Haven group will benefit from the new synergies and efficiencies of having a dedicated operations, risk and back-office team in-house as well as being independently licensed by the Hong Kong Securities and Futures Commission.

Darryl Flint, CEO and CIO of Double Haven, and his team intend to continue focusing on Asia credit strategies. The Double Haven Asia Absolute Bond Fund has returned 16.8% as at the end of September and the team intend to launch additional products in the coming months.

“While the credit markets in Asia have developed significantly over the last 10 years, we believe there is still much more to be done, resulting in an ever growing opportunity base as Asia shifts from its heavy dependency on the equity markets,” said Flint. “In 2012, we are witnessing an unprecedented amount of new issuance which has been easily absorbed by the market, as global bond investors shift from being underweight this asset class and dedicated Asian investors turn their focus to diversify from equities. We think this asset class offers a tremendous opportunity, and are excited to be in a stronger position to deliver a fully institutional offering to investors.”

Prior to completion of the Acquisition, all of the other non-Double Haven funds on the DragonBack platform had been wound down.

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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