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Samena enters into seeding JV with Swiss firm Reyl

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Hong Kong-based Samena Asia Managers (SAM), the hedge fund seeding arm of Samena Capital, has entered into a joint venture with Geneva-headquartered Reyl &

Hong Kong-based Samena Asia Managers (SAM), the hedge fund seeding arm of Samena Capital, has entered into a joint venture with Geneva-headquartered Reyl & Cie reported AsianInvestor this week. Samena Capital currently runs three hedge funds – Samena Special Situations, Samena ASM Asia Bond and Samena Angel – and has USD400million in AUM. Samena Angel (SAM being the fund manager) aims to generate capital appreciation for its investors by investing in emerging market Asian hedge funds. Typically, the firm commits seed capital of USD25million to USD50million. SAM has partnered up with Reyl to leverage its distribution and asset management expertise, with head of SAM Hong Kong, Julius Wang, confirming that the Reyl partnership would help seeded managers “raise capital more quickly”. “It’s not always easy these days for even experienced individuals to raise money and get their message out to the market,” Wang told AsianInvestor. Another fund, Angel Fund II, is due to soft close later this year with USD150million to USD200million. Whilst both Angel funds focus on Asia-based fund managers, Angel Fund II will have a wider remit according to Wang, with an aim to help those with USD25million plus in AUM reach USD50million. Seeding involves buying an equity stake in hedge funds. Consequently, the funds’ performance, which target 20 per cent annualised returns, derives from both the equity and underlying fund returns. With strong investor demand in both Europe and Asia, Reyl Singapore’s chief executive, Charles Bok said: “This is a real opportunity to offer clients very sophisticated products with a high level of transparency.”
 

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