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Revere looks east to seed Asian hedgies

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New York-based Revere Capital Advisors LLC, a hedge fund seeding firm who last year opened an office in Singapore, is planning to raise assets to start investing in Asian hedgies reported Bl

New York-based Revere Capital Advisors LLC, a hedge fund seeding firm who last year opened an office in Singapore, is planning to raise assets to start investing in Asian hedgies reported Bloomberg this week. The region is already attracting global funds like Viking Global Investors, Soros Fund Management and GLG Partners (now part of Man Group). Consequently, Asian hedge funds, partly due to lack of strategy diversification, are having to compete hard to win a slice of the assets pie. Revere’s managing director for Asia Jameel Tawasin, however, sees “lots of potential” as Asia’s economies expand, confirming that he was being inundated with seeding requests from Asian managers. “It does seem to be a popular means of asset raising at present,” said Tawasin, adding that Revere had built up a database of Asian managers and would carry out due diligence “when the time is right”. Upwards of USD20million in seed capital will be provided by Revere to new or startup funds with an option of taking a 25 per cent equity stake in the chosen management company said Tawasin.    

 

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