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Bloomberg – Stanley Ku, former head of Fortress Investment Group LLC’s Hong Kong office, plans to start an Asia- focused hedge fund to profit from macroeconomic developments, according to a marketing document given to potential investors.
Minerva Macro Fund, to be managed by Hong Kong-based Ku, will start investing in early August, two people with knowledge of the plan said. It seeks to generate annual returns of 12 percent to 22 percent trading stocks, interest rate, currency and commodity instruments in large and liquid markets, according to the document, obtained by Bloomberg.
Reuters – India Church Pension Fund has invested in Future Group backed Indivision India, Advantage Partners and IDG Accel China.
The $8 billion Church Pension Fund based in New York City has roped in Eric Mason(ex-Carlyle Group), to open a new Hong Kong office, its first in Asia, reports Dow Jones.
Mason is a former JP Morgan banker and most recently headed Carlyle Group’s Asian leveraged finance team(set-up in 2007 but disbanded in November 2008 after the credit crunch hampered its ability to raise funds). He will look after all asset classes including private equity, real estate and hedge fund investments in the continent, the report said.
