Newly established Solaris Asset Management in Singapore is launching a pure relative-value arbitrage fund focused on Asian equities. The fund is starting with $30 million, with most of the capital hailing interestingly from China-based investors. The firm is led by partners Thomas Tey, Wong Jin Boon and Wang Wei Dong, all veterans of the Asian markets.
Optimal size for the strategy would be $500 million. The fund targets annual returns of 25%. While investments will initially be Asia-focused, Solaris will consider exposure to the more liquid markets in Europe, the US and Latin