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 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.