Octagon hedge fund firm returning outside money, converting to family office

Hong Kong

OCTAGON Capital Management Pte, a hedge fund firm started by former Government of Singapore Investment Corp executives, will return all client money in its two funds and convert to a family office, joining a rising number of managers going back to running in-house capital.

Investors will receive their money early next month, co-founder Lam Poh Min said in an instant message exchange from Singapore. Mr Lam and other Octagon Capital executives are meeting investors this week, he said. The firm will continue to manage the quantitative equity fund with executives' and partners' money, as well as capital from friends and family, Mr Lam said.