New York-based firm Highbridge Capital Management is launching an Asia-focused hedge fund.
Bloomberg reported that Highbridge is planning to raise about $250 million to start its Pan-Asia multi-strategy fund which is due to open to investors early next year.
Managed by Hong Kong-based Asia head Arjun Menon, the new fund will focus on exploiting pricing gaps between related securities by betting on rising and falling stocks. Menon, who has been with Highbridge since 2003, is responsible for the firm’s Asian convertible, derivatives and credit investments
HighBridge liquidated its Asia Opportunities Fund after former Asia head Carl Huttenlocher left in March 2011.
A unit of JPMorgan Chase & Co., Highbridge manages approximately $31 billion in assets.