Thu, Jan 29, 2015
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. Investing - U.S. investors favor currency hedged Europe ETFs as euro tumbles, Quants win back investors as Swiss franc fuels volatility gains, David Einhorn's $7bn hedge fund is loading up on this stock, Hedge fund BlueMountain Capital unveils Ocwen Financial short, claims default on notes[more]

    U.S. investors favor currency hedged Europe ETFs as euro tumbles From Reuters.com: U.S. investors stung by the falling euro who want to stay invested in Europe are turning to exchange-traded funds designed to strip out the impact of the region's currency. The biggest among so-called "cur

  2. News Briefs - Millennials use tech tools to jump into investing, Winklevoss twins to launch bitcoin exchange with FDIC insured deposits, Robertson’s legacy from hedge funds to New Zealand, Real estate managers exploring smaller open-end funds[more]

    Millennials use tech tools to jump into investing It is the Facebookification of monetary investing. From social networking platforms that enable young investors to stick to every other's stock-picking mojo, to internet sites for initially-timers hungry for a piece of the Silicon Valley

  3. Update: Prosecutors seek 12 years for hedge fund manager Francisco Illarramendi[more]

    Komfie Manalo, Opalesque Asia: Federal prosecutors have asked the court to sentence convicted hedge fund manager Francisco Illarramendi to 12 years imprisonment for running an elaborate Ponzi scheme that bilked investors hundreds of millions in dollars, including a Venezuelan pension fund, report

  4. Institutions - Ontario pension fund leader calls all asset classes ‘expensive’, Taiwan's BLF plans $2bn in alternative mandates[more]

    Ontario pension fund leader calls all asset classes ‘expensive’ From WSJ.com: The head of one of the world’s largest pension funds said that across asset classes, “everything is expensive.” Ron Mock, who leads Canada’s $141 billion Ontario Teachers’ Pension Plan, said that the plan would

  5. Opalesque Exclusive: Ex-Citi trader launches 'sleep-at-night’ long/short equity fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: After working at Citi's proprietary trading desk, managing a large portfolio between 2008 and 2011, Joel S. Salomon founded SalauMor Management in New York