Barclays Says Over $70B Available for Hedge Funds Looking to AsiaFollowing to Barclays, a British multinational banking and financial services company, $70 billion is up for grabs for global hedge funds looking to raise money in Asia over the next few years.
Vast private wealth in the region and the rise of several large sovereign-wealth funds has long been an opportunity for global hedge fund managers. Asian investors, though, continue to account for a small portion of industry assets and have proven notoriously hard to win over.
Investors in the region currently account for around US$150 billion invested in global hedge funds, Barclays said, a sliver of the roughly US$2.5 trillion managed by the industry. Of the up to US$70 billion the bank estimates will be on the table over the next few years, roughly half would be new assets.
“There’s this perpetual sense of enthusiasm that tends to originate primarily from North American-based managers that a pot of gold exists in Asia that has yet to be accessed,” said David Bennett, Barclay’s head of capital solutions in Asia. “There is definitely a lot of potential here in terms of raising assets—realizing that potential is a very different matter.”Source: Wall Street Journal