Wed, Jun 28, 2017
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. Investing - U.S. hedge fund in anonymous bet against Tesco shares, Hedge funds made repeated attempts to invest in Veneto banks, Steve Cohen's Point72 takes stake in struggling electronics retailer Conn's, Hedge fund Excalibur bets Riksbank will tighten by end of year[more]

    U.S. hedge fund in anonymous bet against Tesco shares From FT.com: A $20bn New York hedge fund is using an offshore shell company to anonymously bet against the shares of the UK supermarket Tesco, raising fresh questions over the efficacy of European short selling disclosure rules.

  2. Investing - In Amazon's shadow, hedge funds take aim at Brexit-hit retailers[more]

    From NYTimes.com: Hedge funds have significantly stepped up bets against Britain's traditional high street retailers, as the sector struggles with online competition, worries about a stretched consumer and weakening sales and profits. The risks were on full display on Tuesday when shares in Debenham

  3. ...And Finally - Nighttime barbecue festival in downtown Memphis![more]

    From Newsoftheweird.com: On May 19, Carl Webb and his wife left a nighttime barbecue festival in downtown Memphis and headed home. They drove 14 miles on an interstate highway before a police officer pulled them over to ask if Webb knew there was a body on his trunk. The man was clinging to the lip

  4. Global macro hedge funds lose on sharp drop in oil prices[more]

    Komfie Manalo, Opalesque Asia: Global macro hedge funds suffered losses due to the sharp fall in oil prices and the drop in U.S. and U.K. Treasury yields, Lyxor Asset Management said in its Weekly Briefing. The Lyxor Global Macro Index fell -1.0% from 13 June to 20 June (-3.4% YTD). The Lyxor

  5. State pension plans see liabilities increase in 2016 - Wilshire[more]

    Bailey McCann, Opalesque New York: The funding ratio of state pension plans dropped four percentage points to 69 percent in fiscal year 2016, according to Wilshire Consulting. A year ago, Wilshire Consulting's annual state funding report uncovered a funding ratio of 73 percent. "U.S. stock pe