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Hong Kong-based FoHFs firm, MCP Asset Management, has acquired SPARX International (Hong Kong) Ltd, the local arm of SPARX Group, Asia’s second largest hedge fund, to expand its Asia coverage. “FOF is not necessarily a core business for SPARX, thus they think it make sense to ally with us,” explains Tetsuo Ochi, MCP Partner and CEO, via email. At a time when fund of hedge fund firms are looking to consolidate, the acquisition by MCP is perhaps unexpected. Ochi believes that SPARX will benefit from being able to access MCP’s global suite of Asian, US and European managers. “We have much broader analysts’ coverage, so it will be very beneficial to current SPARX investors because now they can access our global product capability without paying extra cost. I am confident that this acquisition is beneficial for current SPARX FOF investors,” says Ochi. Without doubt it gives MCP a stronger footprint in Asia as it looks to enhance the coverage of its Asian managers, although Ochi did not indicate that further deals were in the pipeline. “SPARX can now offer the true globally diversified products if their clients wish to invest so this is a very “win-win” type of situation,” concludes Ochi.


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