Mergers & Acquisitions / Joint Ventures

Gottex-Penjing deal creates major allocator in Asia

by

Max Gottschalk
Swiss alternative investment firm Gottex Fund Management is acquiring Hong Kong-based fund of hedge funds Penjing Asset Management - a move that will create one of the more significant fund of hedge funds players in the region.

The $434 million in assets under management at Penjing will boost Gottex’s allocation to Asian hedge funds to about $800 million. Gottex itself manages at least $7.6 billion in assets globally.

Max Gottschalk, co-founder and head of Asia Pacific for Gottex, who moved to Hong Kong a year back to accelerate the firm's expansion into the region, sees