Ascalon Capital Managers (Asia), a subsidiary of the Australian group Westpac Banking Corp, has received its SFC licence to offer its partner firms’ funds to professional investors in Hong Kong.
The group is looking to become a shareholder in a number of absolute return funds and hedge funds run by good quality managers.
Ascalon is already invested in Hong Kong-based Athos Capital which is launching its event-driven fund this month. It took a 35% stake in the firm and is also seeding its event-driven fund. The group has also invested in long/short equity manager Canning Park Capital.