Swiss hedge funds manager Gottex Fund Management has joined forces with two former executives of Blackstone Group and Goldman Sachs to seed Asian hedge fund.
Gottex, through the partnership with founder of Headland Strategic, Michael Garrow, an ex-Blackstone executive, and Johannes Kaps, ex Goldman executive will offer Asian hedge fund managers as much as US$75 million each from next year, according to Reuters.
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The partnership aims to help them individually to build a start-up capital of minimum US$100 million, the sources told Reuters.
In the recent years, a typical seed investment in Asia has remained to be around US$25 million.
Seeders usually pocket 20-30 cents of every dollar earned by a hedge fund in addition to their share of the return generated.
Gottex Fund Management Holdings is investing in Hong-Kong based institutional investor Headland Strategic in a move to take advantage of the region’s emerging hedge-fund industry. With this partnership Gottex plans to start seeding funds by the first quarter of next year and back two to three managers every year.
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By GlobalDataMax Gottschalk Gottex co-founder told Reuters: "The aim is for Headland Strategic to make fairly large day one investments. We want to help each fund launch with a minimum of US$100 million, a critical amount of capital for hedge funds to survive and grow in Asia."
