Westpac Banking Corporation’s subsidiary Ascalon Capital Managers (Asia) has acquired a 30% stake in Canning Park Capital, a long/short equity manager run by former AlphaGen Capella, Morgan Stanley and Goldman Sachs veterans.
Canning Park is the second Asian-based alternative manager that Ascalon has partnered with in the space of less than two months. In December, the boutique incubator announced it had acquired a 35% stake in the Hong Kong-based event-driven manager Athos Capital.
Ascalon’s investing focuses around taking equity stakes...