Fund launches & closures

Ex-Goldman man Karmali gears up to launch pan-Asia strategy

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Shafiq Karmali, until recently a star trader at Goldman Sachs Asia's Principal Strategies Group (GSPS), is setting up his own pan-Asia long/short fund, which is expected to launch in the third quarter of 2009. All eyes are on the launch given Karmali's track record. He is understood to have been running around $1 billion in a similar pan-Asia equity long/short book at GSPS. The expectation is that this will be one of the top quality launches this year, in the same league as Hari Kumar's Lion Rock Capital and Hyder Ahmad's Broad Peak Capital.

Karmali's firm will be