Sat, Dec 3, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Asia Pacific Intelligence

Ex-Mizuho credit strategy manager Yap nets $100m seeding to launch Asian credit fund

Thursday, June 13, 2013

Ex-Mizuho star credit strategy manager Jeffrey Yap is to launch an Asian macro fund, focussing on Asian credit strategies, long/short credit, bonds and private debt. The fund 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 global 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."

(This piece was first published in Opalesque on June 7th.)

 
This article was published in Opalesque's Asia Pacific Intelligence our monthly research update on alternative investments in the Asia-Pacific region.
Asia Pacific Intelligence
Asia Pacific Intelligence
Asia Pacific Intelligence
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. M&A - AllianzGI to acquire Sound Harbor Partners, SS&C completes acquisition of Wells Fargo's Global Fund Services business[more]

    AllianzGI to acquire Sound Harbor Partners Allianz Global Investors (AllianzGI), an active investment manager, announced that Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, have agreed to join its fast-growing Private Debt Platform. Under the te

  2. Europe - UK investors to pay more tax on money in offshore funds, Do you want to hand your money to super-algo or a Swiss banker?[more]

    UK investors to pay more tax on money in offshore funds From FT.com: Hedge funds in Dublin and Luxembourg are set to be hit by new rules that will force UK investors to pay more tax on the money they hold in offshore funds. As part of the government’s Autumn Statement on the country’s fi

  3. Hunt for yield pushes more investors into riskier assets[more]

    From FT.com: Pension funds and insurance companies have increasingly embraced riskier assets in their hunt for higher returns over the past five years. Alternative assets such as property, infrastructure, private equity and hedge funds have been bought up by institutional investors in a world where

  4. People - Nectar Financial hires senior investment team, Texas A&M replaces retiring foundation investment chief, Ex-Cadwalader partner Woolery makes another sudden exit, How to become a Python coder at a top hedge fund, by the co-CTO of Man AHL[more]

    Nectar Financial hires senior investment team Nectar Financial AG, a Swiss financial technology company for wealth and asset management, has announced that it has hired two key senior leaders to spearhead its digital asset management efforts. The company also announced that it has entere

  5. Activist News - Cognizant has introductory discussion with activist investor Elliott; to review letter, Starboard Value makes huge investment in Hewlett Packard, Hedge fund calls for removal of First NBC Bank CEO[more]

    Cognizant has introductory discussion with activist investor Elliott; to review letter From Indiatimes.com: Cognizant said it had an introductory discussion with Elliott Management after receiving the activist hedge fund's letter asking for a board shakeup, a buyback, a dividend and chan