Launches & Closures

Kapstream Capital launches Asian bond fund


Steve Goldman
Kumar Palghat
Sydney-based Kapstream Capital, which has ex-PIMCO talents as its key operatives, is launching a Cayman-registered Asian bond fund in early August after securing $50 million seed capital from a direct investor outside of Asia.

The Asian bond strategy kicked off as a segregated mandate last week and the Cayman vehicle is expected to launch in early August. The group runs an unlevered absolute return fund that is not a hedge fund, at least at present.

Launch size for the new fund is set at around $60-70million and the