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Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Australia Firm Acquires Singapore Hedge Fund

Mar 27, 2013
Jing Chen

Ascalon Capital Managers, which invests in hedge fund firms, announced Wednesday that it has acquired a 30% stake in a Singapore-based hedge fund firm.

Chuak Chan, the CEO of Australia-based Ascalon, said in the statement that RV Capital “has all the hallmarks of being a leading alternative fund in the region, and the acquisition is further evidence of Ascalon’s ambition in Asia.”

The acquisition includes an investment in RV Capital’s flagship fund, which focuses on long/short investing across Asian rates, credit and foreign exchange markets. No additional financial details were disclosed.

With offices in Sydney, Hong Kong, Singapore and London, Ascalon is 100% owned by Westpac Banking Corporation. Founded in 2011 by Ranodeb Roy and Vickram Mangalgiri, RV Capital manages about $50 million after the acquisition.

Source: 

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