Hong Kong-based Income Partners Asset Management, a hedge-fund firm that manages $600 million of debt and macro funds, is launching its first equity fund -IP Asian Equity Long-Short Fund, reported Bloomberg.
Agus Tandiono, Chief Investment Officer for equities, and the Fund’ Manager, said that initially the fund will commence investment from the first week of next month with up to $50 million of capital, and expects to raise its assets to $300 million by next year.
“The equity markets have peaked and bottomed and moved up very quickly. This is a great timing to capture the recovery and the growth over the next three to five years,” added Mr. Tandiono.
The new fund will invest at least $1 billion in companies across four industries, including financial, industrial, telecommunications and information technology in China, South Korea and Australia.
