Asia-based Sunwah takes over RAB energy funds, PCE platform

Thu Jun 30, 2011

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Sunwah International, an Asian-based financial services firm formerly known as Kingsway International Holdings, is taking over the management of the RAB Energy and RAB Octane funds and also buying a controlling stake in London-based asset management platform PCE Investors to kickstart its bid to develop its presence in the global hedge fund market.

The group's asset management arm, Sunwah International Asset Management (SIAM), has entered into a non-binding letter of intent with RAB Capital plc, the beleaguered London-listed asset manager, for the purchase and novation of the investment management agreements of its Energy Fund and Octane Fund.

The arrangement follows last week's announcement by RAB that it planned to delist from the London AIM market via a proposed buyout by its executive directors. RAB had also said last week that it was seeking to sell the...

ISSN: 2151-1845 / CDC10004H

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