BFAM Partners, the Hong Kong-based investment firm founded by Benjamin Fuchs, could be on the road to recovery after a troubled 2022, with the both the firm’s main hedge fund and a side pocket of illiquid Chinese credit recording gains in January, according to a report by Bloomberg.
BFAM Partners, the Hong Kong-based investment firm founded by Benjamin Fuchs, could be on the road to recovery after a troubled 2022, with the both the firm’s main hedge fund and a side pocket of illiquid Chinese credit recording gains in January, according to a report by Bloomberg.
The $1.2 billion firm’s hedge fund, which lost 26% last year, returned 7.5% in the first month of 2023, while the $400 million side pocket of mostly Chinese property credit assets gained 3.5%.
BFAM, which at one point managed $4.9 billion of assets, ran into problems when Chinese regulators introduced stricter controls on the property sector causing a crash in Chinese real estate bonds, one of the mainstays of the firm’s investment strategy.
