Hedge fund firm Dymon Asia Capital is teaming up with a former SAC Capital portfolio manager to raise $500 million for a hedge fund that will invest in stocks.
Reuters reported that Singapore-based Dymon will launch the new fund in the second quarter of this year with a focus on Asian stocks, with Carl Vine as its chief investment officer. Vine joined Connecticut-based SAC Capital in 2008 from UBS in Hong Kong.
The article added that $150 million of the fund’s initial capital will come from Dymon, and the firm plans to raise no more than $500 million for the fund’s first year in business.
Dymon started out with $100 million in capital from Paul Tudor Jones’ Tudor Investment Corp. when it launched in 2008, but now manages approximately $3.6 billion in assets.