Thu, Jan 18, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Asia Pacific Intelligence

Global Prime Partners seeks to support emerging Asian hedge fund managers

Thursday, September 05, 2013

Global Prime Partners, the global prime brokerage boutique which specializes in supporting emerging managers, has expanded its service capabilities into the Asian markets region with the recent hire of ex-hedge fund and family office manager Rupert Street. In an interview with Opalesque, Street explained that he had used GPP's services in the past and so had seen the advantages of a specialist mini prime broker from the outside.

While based in Hong Kong, Street has been travelling extensively through Asia researching the hedge fund industry and in particular emerging managers in the region. "Sub-$150m there is no prime brokerage service" Street says, observing that many of the tier one prime brokers are actually looking to cull smaller and less profitable funds.

In his research process, Street has found the Asian hedge fund industry somewhat depressed and cautious. "Asia seems to have a massive divide between really good performers and big funds with decent assets under management who are able to dominate the sector but I notice that in the smaller sector thereseems to be little support for emerging managers or funds that are starting up."

The regulatory requirements of even registering a fund in Hong Kong dictate that a new manager has to have at least $1m to start with. "When you are leaving a bank or your old fund group, you need a leg up" Street says.

"My first activity is to find potential hedge fund managers who are either established or about to be let go from prime brokers, prop traders who are being culled out of banks and private wealth managers and family offices who want to stay away from the private banking route because it is expensive" he says. "We offer an affordable solution by offering prime brokers services to help funds looking to launch and build a track record in the sub-$50m 'space'."

One of the unexpected outcomes of the latest regulations in Europe is that money is flowing into Asia", Street says. "I want to set up shop and say you can do business sub-$50m or even sub-$5m and we need to develop an entrepreneurial spirit. Baby hedge funds grow up to become big ones and in Asia there is a lot of opportunity to build that connection."

This piece first appeared in Opalesque on 25th July.

 
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. Legal - Former Och Ziff hedge fund executive indicted for fraud in Africa investment scheme, prosecutor says, Hedge fund blasts defense of Puerto Rico restructuring law[more]

    Former Och Ziff hedge fund executive indicted for fraud in Africa investment scheme, prosecutor says From CNBC.com: A former hedge fund executive faces federal charges for defrauding a UK-based charity over investments in Africa, according to a grand jury indictment made public Wednesday.

  2. U.S. economy, inflation and alternative investments to dominate 2018 markets, says family office Wilmington Trust[more]

    Komfie Manalo, Opalesque Asia: The emergence of a late-cycle economy in the U.S., the mystery of inflation and growth from a domestic and global perspective, and the potential for alternative investments to prosper against a backdrop of rich valuations, low yields, and higher volatility are the t

  3. Performance - Some hedge funds deliver double-digit gains for 2017, Brevan Howard's hedge fund suffers biggest annual loss in 2017, Crispin Odey's flagship hedge fund plummeted about 20% in 2017, Profits fall 90% at ex-Morgan Stanley banker's hedge fund, Fannie-Freddie overhaul might mint hedge fund riches, losses[more]

    Some hedge funds deliver double-digit gains for 2017 From Reuters/Investing.com: A handful of hedge funds ended 2017 with double digit returns, their investors said, at a time the $3 trillion industry took in fresh money and posted its best returns in years, industry data show. Act

  4. Investing - Hedge funds start 2018 with record $19 billion bet on the euro, Hedge fund Kora Management invests in Satin Creditcare[more]

    Hedge funds start 2018 with record $19 billion bet on the euro From Reuters.com: Hedge funds have kicked off 2018 with their biggest bet ever on the euro rising, a clear vote of confidence in the single currency but, with positioning so stretched, one which could backfire in the near ter

  5. News Briefs - Mobius to retire from Franklin Templeton, Authorities decrypt smart phone of Princeton grad charged with killing Manhattan hedge fund dad, Investigators seize (more) antiques from hedge-fund billionaire Michael Steinhardt's collection[more]

    Mobius to retire from Franklin Templeton Emerging markets pioneer Mark Mobius will be stepping down as executive chairman of the Templeton Emerging Markets Group (TEMG) and formally retire from Franklin Templeton on 31 January. He will also be relinquishing his post as portfolio manager