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Former Columbia Professor Starts Asia Fund of Value Hedge Funds

Bloomberg – Van Biema Value Partners LLC, led by a former Columbia Business School professor, started a new fund to invest in Asian hedge funds while plunging markets and client withdrawals force rivals to scale back investments.

The Cayman Islands-domiciled van Biema Asia Value Fund Ltd. started on Aug. 1 with about $215 million from one of the company’s institutional clients, van Biema said in a statement issued through PR Newswire yesterday.

“Our niche, the value discipline, has demonstrated, over the long term, significant outperformance over market benchmarks,” the statement said.

Michael van Biema, who taught finance subjects including value investing at Columbia Business School from 1992 before founding his partnership in 2004, started the Asia fund as market declines and the worst hedge fund performance in 19 years force other funds of hedge funds to reduce investments and switch to cash to cope with investor redemptions.

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