People Moves

Ellerston moves operations to Sydney, shutters Hong Kong shop

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Ellerston Capital, the hedge fund manager affiliated with Australian billionaire James Packer with $1.39 billion of assets under management, has centralised the operation of its Asia-focused funds in Sydney after closing its Hong Kong office in April.

Shantanu Nagpal, an Ellerston portfolio manager, left the firm to join Brevan Howard Asset Management in Hong Kong last month.

The firm runs the Ellerston Asia Pacific Fund, an Asian equities-focused long/short strategy launched in 2007, which has $100 million of assets under management. Ellerston also has a multimanager absolute return strategy with exposure to Asian equity and fixed income markets, which