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

REUTERS SHOWCASE

India-U.S. Talks

India-U.S. Talks

Kerry to woo Modi's India, but quick progress unlikely  Full Article 

Paring Debt

Paring Debt

Jaiprakash to sell hydro plants to Reliance Power  Full Article 

Mideast Conflict

Mideast Conflict

U.N. Security Council calls for humanitarian ceasefire in Gaza  Full Article 

Market Eye

Market Eye

Foreign investors prefer Indian cyclicals, utilities - Macquarie  Full Article 

Debt Investment

Debt Investment

India's FII debt limit hike credit-positive, says Moody's  Full Article 

Reuters India Mobile

Reuters India Mobile

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