Despite an absolutely brutal second quarter for the Chinese equity market, Asian hedge fund start ups continued to rock — raising a record $5.3 billion in the first half of 2015.
According to Opalesque, the kingly sum is reportedly equal to what Asian hedge funds as a whole raised in 2014, highlighting just how booming the industry is the moment.
Surprisingly, global macro funds took the lion’s share of the total, raking in over $4 billion as Graticule Asset Management Asia spun out of Fortress and former Nomura currency chief Jai Rajpal launched Crescent Macro. Ex-SAC man Yip Ka-hay meanwhile, also helped his sector surge past its peers as he opened Hong Kong-based Bright Stream Capital Management to investors.
As for it’s significance, here’s what Aradhna Dayal, head of Asia for HedgeFund Intelligence in Hong Kong, told Reuters:
“This is what makes 2015 so remarkable, and let’s not forget, we still have several multi-hundred dollar launches by star managers slated for the second half.”
Nice.
Photo: Khush N