Launches & Closures People Moves

Ex Deutsche team launching new arb fund in Hong Kong

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Bing Wang, previously the highly regarded head of Deutsche Bank’s Saba Principal Strategies prop desk in Asia, is understood to have joined hands with former team member Ron Schachter and James Tu, formerly of DKR Oasis Management, to start a new hedge fund outfit dubbed Nine Masts Capital.

The firm is expected to launch a relative-value capital structure arbitrage fund, investing in securities that are mispriced either due to technical pricing trends or due to the company’s financial fundamentals. The fund is also expected to take advantage of mispricing of various share classes of a given company, or