| HONG KONG, June 26
HONG KONG, June 26 Segantii Capital has soft
closed its Asian hedge fund, one of the best performers in the
region, and hired at least eight staff in 2012 to help manage
The Hong Kong-based firm is turning away new investors, a
practice known as soft close in the industry, after tripling
assets to $620 million in the last one year, Chief Executive
Kurt Ersoy confirmed to Reuters on Tuesday.
Only about 5 percent of Asia-focused hedge funds manage $500
million or more. The milestone is keenly watched by the
relatively small regional industry because it is considered a
reflection of the ability of money managers to attract
Hedge funds close doors to investors for fear that running
bigger assets would harm returns.
Investor interest in Segantii's fund, launched in 2007 by
the former head of Asian equity trading for HSBC Securities
Simon Sadler, has surged following a 41 percent gain last year
and a 3.1 percent increase in 2012 through the end of May.
Peers as measured by the Eurekahedge Asian index fell 8.2
percent last year and have gained 1.3 percent so far in 2012.
Segantii had earlier closed the fund to external investors
between September 2009 to the end of 2010.
The latest soft close comes as the hedge fund builds out its
team to handle increasing assets.
The eight staff hired this year includes Factorial
Management executive Lewis Fellas, Ersoy said.
Factorial, a hedge fund launched in January by former DKR
Oasis bookrunner Barun Agarwal, has replaced Fellas with Irina
Heumez, who earlier worked at Barclays Plc.
Segantii hired former Credit Suisse executive
Kirtes Bharti as head of financing in April.
Wei Huang, who earlier worked for Barclays Plc,
joined in May.
Other hires this year include former Bank of America Corp
executive Daniel Ho, Kisalaya Singh, who previously
worked at Frontpoint, and former Mizuho Securities executive
Maximillian von Etzdorf.
Kong Yu, who had worked for Daiwa Capital Markets, and
Martin Goulet, a former senior analyst at Caliburn Capital
Partners, have also joined Segantii.