Firm backed by Alibaba founders in talks to seed new hedge fund
Hong Kong
BLUE Pool Capital, which invests billions of dollars for wealthy clients including two top Alibaba Group Holding Ltd executives, is in advanced talks to back a new hedge fund that's being planned by a former Asia head of Balyasny Asset Management, according to people with knowledge of the matter.
Avinash Abraham, who left Balyasny earlier this year, plans to start a pan-Asia hedge fund in November through his firm Torq Capital Management (HK), said the people who asked not to be identified as the discussions are confidential. The market- neutral fund will bet on rising and falling stocks, said the people, who did not provide details of the size or terms of the investment.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
ADB agrees to US$5 billion funds replenishment with donors
Dollar drops as employers add fewer jobs than expected in April
HSBC has no plans to dispose of further businesses, chairman says
JPMorgan unveils IndexGPT in next Wall Street bid to tap AI boom
Morgan Stanley, Frasers settle UK lawsuit over US$1 billion margin call
Danske’s net income rises 9% helped by higher interest rates