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