The Asia-focused event-driven fund Senrigan Capital Group Ltd, launched in November 2009 by ex-Citadel executive Nick Taylor, has
The Asia-focused event-driven fund Senrigan Capital Group Ltd, launched in November 2009 by ex-Citadel executive Nick Taylor, has joined the billion dollar club, reported Bloomberg. Undisclosed sources confirmed that Senrigan attracted some USD55million in new assets during March, bring total AUM to USD1.01billion. This makes it one of the first startups since ’09 to reach the landmark figure and is testament to the quality of one of Asia’s most highly respected fund managers. Hong Kong and Singapore are home to 18 billion dollar funds, up from 10 last year, and this latest news confirms that the region’s fund industry is strengthening. When it launched with USD150million in ’09, Senrigan was the largest Asia-focused boutique start-up since May ’07: USD100million of a USD150million commitment came from Blackstone’s fund of funds unit, with the rest coming from Senrigan’s partners. Global M&A activity so far this year (USD717billion) is already up 58 per cent on 2010 reported Reuters. With over USD760million in assets flowing into Asian even-driven funds last year, according to Hedge Funds Research, investor appetite for the strategy should continue.
