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Keystone Investors raises more then $750m

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Keystone Investors Pte, a hedge fund spinoff from Schonfeld Strategic Advisors, which began trading on 1 April, has now raised more than $750 million, according to a report by BNN Bloomberg.

Schonfeld has backed the fund, which focuses on Greater China stocks, but the report cites Keystone Investors’ CEO Ken Tinkinson as saying that the majority of money has been raised from other investors. The fund is currently closed to new capital in a bid to manage asset size but plans to reopen in the fourth quarter, according to Tinkinson.

New York-based Schonfeld, which manages $13.8 billion in outside capital, has a track-record of backing spinouts in the US and Europe, but Keystone is the first in Asia-Pacific.

According to information sent to potential Keystone investors, the firm’s team, led by Chief Investment Officer Liu Xuan, generated a return of between 12% and almost 30% annually from August 2017 to the end of 2021 at Schonfeld and Folger Hill Asset Management. Schonfeld acquired Folger Hill’s Asia business in 2019.

The team is reported to have lost 3.9% in the first five months of 2022.

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