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Hong Kong Jockey Club Starts Direct Hedge Fund Allocations

Bloomberg – Hong Kong Jockey Club began making direct allocations to hedge funds, said Jacob Tsang, director of group treasury at the city’s only horse-racing operator, which has invested more than $1 billion in alternative assets.

It made its first two such allocations to Och-Ziff Capital Management Group LLC (OZM) and Millennium Management LLC recently, he said. In addition to controlling horse-racing in the city, the club operates authorized betting on football games and lotteries, according to its website.

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