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Goldman Sachs MD joins hedge fund Dymon

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Dymon Asia Capital, a Singapore-based, multi-strategy hedge fund firm that currently manages around $4bn in assets, has hired ex-Goldman Sachs Group managing director Jaewon Yu as it prepares to raise $1bn in fresh funds, according to a report by Bloomberg.

The report cites Deputy Chief Executive Officer and Managing Partner Kenneth Kan as revealing that Dymon is adding to its current operations in Singapore, Hong Kong and Tokyo, with the opening of a new office in Mumbai, although Yu will be Hong Kong-based. Dymon is planning to ramp up its fundraising efforts in the US, the UK and Japan from September with the aim of securing the additional money during 2024.

Goldman veteran Yu will take up his new role of Managing Director and Portfolio Manager in October and takes the number of PMs recruited by Dymon over the past year to 24.

The firm’s flagship multi-strategy fund is up 3.3% so far this year, ahead of the the 2.9% return of the Eurekahedge Asian Hedge Fund Index.

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