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China’s Choi family to buy RAB Capital funds

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Following the news that RAB Capital was de-listing from the Alternative Investment Market (AIM) on the LSE due to client redemptions, the Fi

Following the news that RAB Capital was de-listing from the Alternative Investment Market (AIM) on the LSE due to client redemptions, the Financial Times this week reported that an influential Chinese family was acquiring two of the beleaguered firm’s hedge funds: RAB Capital’s Energy and Octane funds. In so doing, the industry is set to see the launch of one of this year’s largest hedge fund start-ups. Sunwah Group are behind the acquisition, owned by Hong Kong’s Choi family, who control a multi-billion dollar food processing and property empire. The move instantly propels the firm into the hedge fund space. It will be based in London and is expected to have USD1.5billion in AUM by year-end. The Financial Times reported that Sunwah International, the firm’s Toronto-listed financial services division, would take ownership of the new business. It will attach itself to PCE, an FSA licensed alternatives firm that has been specially acquired. Sunwah International is believed to be in talks with Asia and Middle East investors to attract assets into the new entity. 

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