Alibaba’s Joe Tsai amongs Possible Investor for Hong Kong Hedge FundAlibaba co-founder Joe Tsai is among the possible investors for a Hong Kong Hedge Fund to be launched by a former SAC Capital Advisors LP portfolio manager.
Andrew Bazarian, a 10-year veteran of SAC, left the firm's Hong Kong office in March and is readying a fund that will bet on rising and falling stocks. Alibaba co-founder Joe Tsai is among the possible investors, people familiar with the launch said. Mr. Tsai hasn't committed a sum and any investment would be made from his personal wealth, they added.
The Hong Kong hedge-fund community has been abuzz over the possible involvement of Mr. Tsai, who is no stranger to the industry as a partner in Asia-focused hedge fund Blue Pool Capital.
Rarely under the spotlight like Alibaba chairman Jack Ma, who has celebrity-like status in China, Mr. Tsai has played a crucial role as the e-commerce company's chief deal maker and financial operator. He has been an important decision maker in Alibaba's upcoming initial public offering in the U.S., which is expected to raise roughly $15 billion from investors.Source: Wall Street Journal