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Ex-Citigroup portfolio manager launches Greater China hedge fund

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Daniel Chan, a former Citigroup Smith Barney portfolio manager, has decided

Daniel Chan, a former Citigroup Smith Barney portfolio manager, has decided that the time is right to launch a Greater China hedge fund with start-up capital of USD25million reported FINAlternatives. Chan’s new firm, Emerald Orient Investment Advisor, began trading in Hong Kong last month but is not rushing full steam ahead to capture assets. Apparently, the firm is waiting for two of its five partners to join the office before selecting a prime broker. Chan told Reuters that the firm already had commitments to reach USD50million in AUM by year-end. “We do not want to grow too big because we are waiting for the partners to join,” Chan was quoted as saying. The Greater China fund will look to invest in mid- to small-cap companies with potential to increase their market capitalisation upwards of threefold within four years. Two of the other four partners are venture capital and private equity veterans Henry Tsai and Winnie Ho. The identities of the other two partners remain unknown at present. The firm’s capital raising objectives will include targeting family offices in addition to HNW Taiwanese and overseas Chinese investors.     

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