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Four Hong Kong hedge funds launching (and hiring) in 2024

Hong Kong’s hedge funds are some of the world’s best, and in a world of recession (in some places) and a challenging time for many finance firms, they are surprisingly sprightly.

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Viridian Asset Management is the latest to show up on the scene. Co-founded by Pascal Guttieres (CEO) and Arnaud Carcel (COO), a pair of Frenchmen in Hong Kong, it’s expected to launch this summer with $400m in Assets Under Management (AUM), per Bloomberg.

Guttieres was a portfolio manager for Segantii Capital Management in the Hong Kong for seven years before leaving to start Viridian. He spent 12 years with UBS’ block trading team before that. Carcel, meanwhile, was with insurance giant AXA for 18 years (in Paris, Seoul, and HK).

Second after Veridian, there’s a mysterious hedge fund set to launch without a name. Founded by Goldman Sachs veteran (and MD) Jamie Goodman, it’s already received $500m in pledges, according to Bloomberg. Goodman left Goldman in 2021, and since then has been head of Equity Capital Markets (ECM) and a portfolio manager for Maven Investment Partners, a Dubai-based boutique bank. Goodman’s fund will be focused on Asia-Pacific ECM deals such as IPOs, follow-on share sales, and block trades, according to Bloomberg.

Arrowpoint investment partners is the third hedge fund aiming to launch this year, with offices in Hong Kong and Singapore. Bloomberg reported that the fund, founded by Jonathan Xiong, was expecting to launch with $1bn under management. Xiong was co-CEO for Millennium in Asia before leaving to form Arrowpoint, and before that an MD and senior portfolio manager for Goldman in New York.

Fourth is 30th Century Partners, with potentially up to $3bn in AUM. Founded by ex-Morgan Stanley prime broker Kurt Baker, it’s only picked up one member of staff since it came onto our radar in September last year: Ben Mak, its COO. Mak was most recently risk oversight officer and responsible office for Far East Investment Management, a Hong Kong-based credit investor.

Outside of Hong Kong, things aren’t so great. Hiring at hedge funds tailed off at the end of 2023, and there’s not much indication that it's picking up again yet.

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AUTHORZeno Toulon

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