The former head of Asian fixed-income trading at Japanese investment bank Mizuho Securities Asia plans to launch his own hedge fund, according to a Bloomberg report.
Jeffrey Yap, who left Mizuho in May, will open Hong Kong-based Ark One in mid-August which is pending license approval from Hong Kong’s Securities and Futures Commission. The fund will invest about half of its total investments in China.
The article said that the firm plans to raise $250 million for the fund by the end of its year, which will include the $50 million an undisclosed Asia-based institution already committed.
Two other undisclosed founding partners will join Yap at Ark One.