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February 26, 2014updated 04 Apr 2017 2:28pm

Dymon teams up with ex-SAC manager to launch US$500 million hedge fund

Dymon Asia Capital,a Singapore-based asset manager, has teamed up with former SAC Capital portfolio manager Carl Vine to launch a US$500 million global equity long-short hedge fund in UK during the second quarter of this year.

By Verdict Staff

Dymon Asia Capital, a Singapore-based asset manager, has teamed up with former SAC Capital portfolio manager Carl Vine to launch a US$500 million global equity long-short hedge fund in UK during the second quarter of this year.

The Port Meadow fund will invest globally with a strong bias towards Asian stocks, as investor interest in equity-focused funds makes a strong return, reported Bloomberg.

The fund will start with an initial investment of US$150 million from both Dymon and Port Meadow’s partners including Li Shen, David Perrett and David Tuthill.

Following the launch, Vine will serve as chief investment officer of the new firm, while Dymon will provide infrastructure support.

However, the fund will stop accepting money from investors once assets reach US$500 million to enable the investment team to focus on returns.

Vine has joined SAC in 2008 from UBS AG in Hong Kong. He began his career in London in 1997 at Prudential and later moved to UBS AG in 2000 to manage long-short investments in 2001. Luo has joined Dymon in 2012 from SAC Capital where he was a managing director and head of Asia Pacific.

Jay Luo, president Dymon, said: "This is my second time working with Carl. The Port Meadow team boasts significant shared working history."

"Unlike a traditional seeding arrangement where the manager may need to spend half of his time on building the non-investment functions of a hedge fund, this hybrid model will benefit Port Meadow investors. The business risk typically associated with a new launch is essentially removed, with the investment team entirely focused on producing returns for the investor," Luo added.

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