WSJ – Penjing Asset Management Ltd. said Tuesday it formed a joint venture with Asia Alternative Asset Partners Ltd., also known as Triple A Partners, that is planning to raise at least US$100 million for a fund that will invest in hedge fund managers in the Asia-Pacific region.
The new joint-venture fund will be formed out of the existing Penjing Seed Fund, which will be renamed Penjing Triple A Partners Emerging Managers Fund. The Penjing Seed Fund has almost US$30 million of committed capital, with about 50% deployed across eight funds.
