A trio of French former bankers are planning to launch an Asia-focused hedge fund that will take advantage of the region’s high-yielding bonds.
Reuters reported that Hong Kong-based Orfi Capital, led by former Royal Bank of Scotland managing director Geoffroy Wallier, will start trading at the end of September with about $40 million in capital. Wallier has also enlisted former RBS trader Benjamin Robinot and ex-Barclays Capital equity derivatives head of exotic trading for Asia Alain Chanezon to join the firm as partners.
The article also said that the Orfi, which will focus on U.S. dollar high-yield Asian corporate bonds and hedge interest rates, is expected to grow to $50 million by the end of the year. Wallier told Reuters that the fund has the capacity to manage approximately $300 million in assets if the current liquidity in the market remains.
The Asian hedge fund industry manages about $141 billion in assets, compared to the global assets of more than $2 trillion.