Myriad Approaching $3 Billion Mark

June 2, 2014 James Heinsman Hedge Fund News

Back in November 2011 Carl Huttenlocher, former  head of Highbridge Capital Management LLC Asia, said he would close down his Myriad Asset Management Ltd hedge fund to new money when he reached $2 billion AUM. However, according to three anonymous sources, the fund climbed from almost $2.4 billion at the beginning of 2014 to almost $3 billion today.

It is expected that the Hong Kong-based hedge fund will indeed stop accepting new capital contributions soon, according to one of the sources. Huttenlocher will not comment due to regulatory rules.

Myriad has become one of the largest Asian hedge fund start-ups since 2008. The global financial crisis has caused investors to prefer larger, more established funds. The crisis spawned greater risk awareness and aversion as incoming money has been dominated by larger institutional investors such as pension funds which are not allowed to invest in smaller, more risky funds.

“The multi-billion-dollar gatekeepers serving multi-billion-dollar institutional clients will tend to only show them multi-billion-dollar products,” said Ed Rogers, chief executive officer of Tokyo-based Rogers Investment Advisors. “They’re seen as safe. You don’t get fired for allocating to that kind of manager.”

Carl Huttenlocher, Ed Rogers, Hedge Funds, Myriad Asset Management Ltd, Rogers Investment Advisors,

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