Ercil raises $940 mln in biggest Asia hedge fund launch of 2012

HONG KONG Thu Aug 23, 2012 7:13am IST

Related Topics

HONG KONG Aug 23 (Reuters) - Alp Ercil, the former Asia head of New York-based Perry Capital, closed his own Asia-Pacific fund to fresh money this week after raising $940 million in the biggest hedge fund launch in the region for 2012, a source with direct knowledge of the matter said.

Hong Kong-based Ercil launched his investment firm Asia Research & Capital Management Limited earlier this year with 18 people, including 14 from Perry Capital, which decided to shut its operations in the region in October last year to focus on the U.S. and European markets.

The private-equity style hedge fund firm, which focuses on distressed investment opportunities in credit and equities in the Asia-Pacific region, received $440 million in the first round of capital raising that ended on April 30.

It has raised an additional $500 million since then, getting close to its target of $1 billion, and told clients this week that it was no longer open to investments, the source said.

Bill Wong, the hedge fund's chief operating officer, declined to comment. (Reporting by Nishant Kumar; Editing by Edmund Klamann)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Markets

REUTERS SHOWCASE

Political Pulse

Political Pulse

100 days of Modi: Good for business, not so good for marginalised groups.  Full Article 

Segway in India

Segway in India

Segway’s India business pegs hope on tech-savvy Modi  Full Article 

Best Economy

Best Economy

Swiss economy most competitive once again; EU, U.S., Japan improve.  Full Article 

Power Outage

Power Outage

Mumbai hit by power cuts  Full Article 

Commodities

Commodities

Gold imports, premiums to jump on festive demand - top refiner  Full Article 

Economic Worries

Economic Worries

Pakistan's promises to IMF in doubt as protests sap economy   Full Article 

Islamic Finance

Islamic Finance

Basel III deposit challenge looms over Islamic banks   Full Article 

Antitrust Probes

Antitrust Probes

U.S. business lobby says concerned China antitrust probes unfair.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage