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Hedge fund Ghisallo opens new Hong Kong office

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Ghisallo Capital Management, a Massachusetts-based hedge fund that makes global macro, long-short equity, credit, and distressed credit, event driven, special situations and relative value investments, is opening a new office in Hong Kong, according to a report by Bloomberg.

The report cites a business registration document in revealing that the $3.4bn firm incorporated a Hong Kong entity at the end of last year, following the recruitment of former UBS Group banker Carlo Agostinelli as a Managing Director last October.

Ghisallo’s Asia activity predates the establishment of its office in Hong Kong with the firm, led by Chief Investment Officer Michael Germino, having been actively engaged in share sales in the region for several years.

Ghisallo was among the buyers in 2022 when SoftBank Group cut its stake in One 97 Communications, the parent company of India’s leading digital payments brand Paytm, and again the following year when Berkshire Hathaway sold its stake in One 97 in a block trade.

Ghisallo was also a cornerstone investor in the 2022 IPO of Thai meat producer Betagro and participated in a $700m capital raising round of SoftBank-backed Indian food-delivery platform Swiggy the same year.

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