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Huttenlocher due to launch Myriad in Hong Kong this September

August 4, 2011
- 5:38 pm

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The former Asia head of JP Morgan’s hedge fund firm Highbridge Capital Management, Carl Huttenlocher (pictured), who left the firm in March 2011 to

The former Asia head of JP Morgan’s hedge fund firm Highbridge Capital Management, Carl Huttenlocher (pictured), who left the firm in March 2011 to start his own hedge fund, has moved a step closer toward realizing that by hiring Scott Gaynor as his chief operating officer. Reuters reported that sources familiar with the matter said that Huttenlocher planned to soft launch his new Hong Kong-based hedge fund, Myriad, in September. The fund is expected to start trading with USD300million but hopes to reach USD1billion when it opens to external investors next year. Huttenlocher will use the same strategy as that employed in the USD1.4billion Asia Opportunities Fund, which traded equity l/s and convertible bond strategies before Highbridge decided to liquidate the fund following Huttenlocher’s departure.

Although Myriad will be barred from poaching former Highbridge staff, the new fund is expected to attract a lot of Huttenlocher’s former clients. With Asian hedge funds having enjoyed a healthy USD2.8billion in capital inflows for the first half of 2011, it would seem a propitious time to be launching a new fund. Morgan Sze has already seen his Azentus fund double from USD1billion to USD2billion. Factor in Hang Hu’s Principia Capital Advisors planning to launch in Hong Kong with assets north of USD750million, and former DMR Oasis manager Seth Fischer’s plans to raise USD1billion by opening his Asia-biased multi-strategy fund to external investors later this summer and it’s hard not to be bullish on the outlook for Asia’s hedge fund industry.

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