Jeffrey Yap Launching New Asian Hedge Fund

July 31, 2013 Ruth Curtis Hedge Fund News

The former head of the Asian fixed-income trading at Mizuho Financial Group, Inc, Jeffrey Yap, is making plans to launch his own Hong Kong-based credit-focused hedge fund.

Joining Yap at the fund, called Ark One Ltd, will be two other founding partners, unidentified for now.  The plan is for the fun to begin accepting investors in mid-August as soon as they receive approval for their license from Hong Kong’s Securities and Futures Commission.

In Asia equity hedge funds still make up 71 percent of the regions hedge fund assets. In the rest of the world equity hedge funds only account for 27 percent of the industry’s assets.

“We’re seeing the need for more diversified Asian home-grown credit hedge funds as the Asian fixed-income markets liberalizes further,” said 37-year-old Yap.

An unnamed, Asian-based institution has promised a first investment of $50 million to the fund, which will be investing in public and private credit in Asia, with an emphasis on China. The institution will be allowed to invest an additional $50 million to the fund over the following year.

Yap is planning on raising $250 million more for the fund before the first year of the fund is out. Yap said that up to half of the fund’s investment will be in projects in China.

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Ark One, Asia, China, Hong Kong, Jeffrey Yap,

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