Penjing’s Wu to Expand Seeding of New Hedge Funds
Thursday, July 9, 2009 : PermalinkBloomberg – Ronnie Wu, chief investment officer of the $400 million hedge fund of funds house Penjing Asset Management Ltd., will start a pool of money dedicated to providing early investments to new hedge funds next month.
It aims to make five to six investments with the flagship Penjing Asia Fund by year-end, he said in an interview yesterday. The new pool will begin with about $25 million from Wu’s family and friends and then raise capital from investors after the initial money has been deployed.
Tags: asia fund, asset management ltd, bloomberg, chief-investment-officer, family and friends, flagship, hedge fund of funds, hedge funds, initial money, investments, investors, new pool, penjing asset management, rsquo, year end
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