Former Goldman Sachs proprietary trader Andrew Wang is planning to launch an Asian hedge fund in the first quarter of 2014.
Reuters reported that Hong Kong’s Securities & Futures Commission granted a license to Wang’s Redstar Auspicious Capital Management, which will bet on Chinese and Japanese shares, last week. Wang, who left Goldman earlier this year, is currently in discussions with investors and aims to raise $50 million to $100 million to launch the fund.
In a fund marketing document obtained by Reuters, Wang told investors that “both China and Japan, the No. 2 and No. 3 economic powers, are structurally positioning a turning point - a de-leverage cycle and re-leverage cycle respectively,” and “are likely to provide big investment opportunities.”
Former Triskele Capital Management chief investment officer Shiba Tsuyoshi has joined Redstar as head of research.