Stanley Ku, the former Hong Kong head of Fortress Investment Group is getti
Stanley Ku, the former Hong Kong head of Fortress Investment Group is getting ready to have another crack at the Asian hedge fund industry by opening Complus Asset Management reported Reuters this week. This follows the decision to close Minerva Capital Management last year. Joining Ku is Ching Kam, formerly of Alphadyne Asset Management. Veteran hedge fund manager Ku started Minerva Capital Management in ’09 with a cornerstone investment of USD50million in seed capital for the Minerva Macro Fund from RMF Global Emerging Managers but he returned investors’ capital last year. Prior to this Ku set up and ran Fortress’s Hong Kong operation until 2008. Complus Asset Management received an asset management license from the SFC on May 25th according to its website. A prime brokerage source told Hedgeweek that he expects to see “four to five” launches in the USD400million to USD1billion range in Hong Kong this year. Ku’s new hedge fund business joins a growing list of high profile names operating in the city, with Nick Taylor’s Senrigan having earlier this year reached USD1billion in AUM, and Morgan Sze’s newly launched Azentus Capital expected to reach USD1.8billion in AUM this summer. Nobody at Complus was available to comment.
