Hedge fund Triata Capital posted an impressive 39% gain in February, fuelled by bullish bets on AI software and data centre stocks as advancements at DeepSeek and Unitree Robotics helped drive a broader rally in Chinese equities, according to a report by Bloomberg.
The MSCI China Index jumped nearly 12% last month, extending its gains into March as investors re-evaluated China’s technology sector potential.
Triata, which manages over $1bn in assets, capitalised on the AI rally by taking early positions in GDS Holdings, a data centre operator, when its American depositary receipts (ADRs) were trading at $5 to $6 in early 2024. By February, GDS stock had surged above $40, significantly boosting fund performance, according to an unnamed source familiar with the matter.
Triata’s Chief Investment Officer Sean Ho, a former Susquehanna International Group trader and Tybourne Capital Management executive, has leveraged alternative data — including company hiring trends — to guide investment decisions. The fund continues to hold positions in AI software firms involved in cloud computing and AI-generated video content, which are expected to benefit from China’s expanding AI ecosystem.
Viridian Asset Management also capitalised on the recent surge, posting its best month since inception in August 2024 with a 6% gain. CIO Pascal Guttieres attributed the returns to strategic investments in follow-on share offerings by Chinese tech firms raising capital for expansion.
