Hong Kong-based hedge fund firm Double Haven Capital has received approximately $100 million from the California Public Employees’ Retirement System.
Reuters reported that Calpers, the biggest pension fund in the U.S., invested the money in Double Haven’s long/short credit hedge fund. The allocation will boost the hedge fund firm’s total assets under management to more than $710 million; Double Haven managed just $160 million at the end of August last year.
Double Haven chief executive officer Greg Donohugh told Reuters that “large institutional investors are recognizing the growth potential in the Asian credit space.” Asia’s $141 billion hedge fund industry is almost entirely reliant on U.S. and European investors for capital.
One of the best performing hedge funds in the hedge funds in Asia, Double Haven spun out of Sparx Group in 2011.