Singapore-based 777 Investment is launching the DoReMi Fund, a Japanese event-driven strategy similar to its flagship 777 Fund, but with a more moderate risk/return profile. Launch will be on 1 April with $50 million.
Kazutaka Hosaka has started as partner to run the new fund. He was previously at BlackRock in Tokyo, heading the Japan equity market-neutral/event-driven portfolio at the firm. BlackRock had three funds in this category with $1 billion in assets. The other two partners at 777 Investment are CIO Yutaka Hashimoto and COO Hisae Ono.
DoReMi will target 15% annual returns with a volatility of