Mergers & Acquisitions / Joint Ventures

NewAlpha Woori venture prepares $200m seeding vehicle

by

Paris-based hedge fund seeder NewAlpha Asset Management and its partner Singapore-based Woori Absolute Partners (WAP) are gearing up to establish a $200 million seeding vehicle for start-up hedge funds in the region.

Both companies announced their partnership last week, saying they will invest in emerging managers and source investing capital from European and Asian institutions.

The East-West alliance was struck just a few weeks after an announcement that both have separately made seed investments into Singapore-based Blue Rice Investment Management (BRIM), which is run by Guan Ong, the former Korea Investment Corp CIO and ex-Prudential portfolio manager.

It