The former managing principal at New York-based hedge fund firm Halcyon Asset Management is launching his maiden fund next month.
Bloomberg Businessweek reported that Khing Oei will launched the new distressed debt fund out of his London-based firm Eyck Capital Management. The fund aims to seek returns by taking both long and short positions in bonds, convertible bonds, equities and bond loans across Europe.
Oei told Bloomberg Businessweek that the "sweet spot" for the fund would be between $500 million to $1 billion in assets, and would cap the fund once it reaches the latter amount. It has already received commitments from family offices, fund of hedge funds and a university endowment.