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New Managers August 2015

NEW LAUNCHES: New launches from emerging hedge fund managers

 

  • Frank Yu, a former Och-Ziff Capital head of China investments, has started an Asian health-care hedge fund, said Bloomberg. The Ally Bridge LB Healthcare Fund began trading on July 15, targeting buying opportunities created by Chinese reforms since 2007. It is led by CIO and CEO Li Bin, a former Merck & Co. scientist who until May was Morgan Stanley's head of Greater China health-care research.
  • Scott Bessent, who has been overseeing George Soros' $30 billion fortune for the last four years and whom some consider Soros' protege, will leave at the end of 2015 to start his own hedge-fund firm. Bessent is forming Key Square Group with a $2 billion investment from Soros, said Reuters.
  • George Zweig discovered the quark at age 26, assisted with a covert military operation during the Vietnam War and helped design one of the first cochlear hearing implants. Now, at 78, he is starting a hedge fund, said WSJ.com. Mr. Zweig is hunting for office space in Manhattan and asking for investor commitments to Signition LP, the quantitative hedge fund he and two younger partners, 40-year-old Shane Haas and 49-year-old Ravi Chander, plan to launch late this year. It is Mr. Zweig's first foray into the hedge-fund world since leaving the famously secretive and profitable quantitative hedge-fund firm Renaissance Technologies LLC in 2010.
  • Former Convexity Capital Management executive Edward DeNoble is starting his own hedge fund firm, Frontlight Capital, which aims to start trading early next year, reported the Boston......................

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    This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
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