(Bloomberg) Andrew Bazarian, a former employee at billionaire investor Steven A. Cohen’s firm, will shut his Asia-focused hedge fund whose backers include a firm that invests money for Alibaba Group Holding Ltd. executives, according to people familiar with the matter.
Bazarian opted to close Pinyin Capital Management Hong Kong Ltd.’s hedge fund after it lost money this year, making it difficult to attract additional investors, and its biggest backer Blue Pool Capital decided to withdraw its capital, said the people, who asked not to be identified because the information is private. Blue Pool invests money for wealthy families including Alibaba co-founders Jack Ma and Joseph Tsai. Bazarian also wished to move back to the U.S., where his family is, said the people.
