Former head of securitized products at Deutsche Bank AG, Gregory Park, is to launch a hedge fund in Hong Kong to tap into the region’s burgeoning consumer-driven demand.
Former head of securitized products at Deutsche Bank AG, Gregory Park, is to launch a hedge fund in Hong Kong to tap into the region’s burgeoning consumer-driven demand. Asia’s middle classes continue to grow, particularly in the BRIC economies of China and India, meaning the levels of disposable income and demand for consumer credit are correspondingly on the rise. Park’s fund – the Northstone Peak Capital Asia Credit Opportunity Fund – will finance consumer finance and other consumer-related companies such as automobile finance companies and cinema operators by mostly buying bonds including convertibles and warrants. The fund, which hopes to raise USD250million within the first six months and eventually reach USD2billion by attracting institutional tickets and HNW allocations, is not your typical traditional hedge fund but more of a “hybrid” hedge and private equity fund.