Van Biema Value Partners has announced the official launch of the Cayman-domiciled Van Biema Asia Value Fund, which began operations on August 1 with an initial commitment of USD215m from one of the firm's large institutional clients.
The fund aims to provide investors with a diversified portfolio of small, high quality pan-Asian value managers, a market segment in which it is difficult for high net worth and institutional investors to make significant investments, according to Van Biema.
The firm argues that the fund offers investors a unique investment proposition, given that currently much of the investment focus in Asia is centred on growth or momentum-based investing, leaving value managers with a robust and growing opportunity set of lower growth, strong franchise businesses.
The Asia Value Fund expects to maintain a small, concentrated portfolio of managers, generally fewer than 20 and will diversify across the Asia-Pacific region, market capitalisation and asset classes as well as the specific value style employed by different managers.
Founded in 2004, Van Biema Value Partners manages several funds of hedge funds domiciled in the US and the Cayman Islands, focusing principally on value-oriented managers whose investment focus is on the US, Europe and Asia, mostly for public pension schemes and other institutional investors.
The firm's founding partner, Michael van Biema, was on the faculty of Columbia Business School from 1992 to 2004 where he taught general corporate finance, capital markets, securities analysis, value investing and entrepreneurial finance.