Private fund management giant Chongyang moves offshore with HK-based fund
Chongyang Investment Management, the largest onshore private fund manager in China - with CNY5 billion ($732 million) in assets - has made its first offshore move by launching a China-related equity long/short fund out of Hong Kong.
Xuli Li and Qiu Guo Geng
Chongyang is looking at this as the incubation stage for its offshore hedge funds business and intends building a track record with the new fund. The firm may also consider setting up a Hong Kong shop, depending on the level of investor interest.
The move underscores Chongyang's desire