Goldman’s Asian Hedge Fund Reaches $1B Mark
Oryza Capital LP, an Asian hedge fund set up by Goldman Sachs Investment Partners, told investors in June that it would stop taking additional money after capital committed had reached its $1 billion mark.
The
Asia-focused equity long-short fund started in September 2013 with an
initial capital of $80 million, according to a document sent to
potential investors.
Oryza
hit the $1 billion mark within a year at a time when banks are
hamstrung by regulations to risk their own capital with hedge funds.
Asia hedge funds started in the first seven months of 2014 raised $19.5
million on average, according to Singapore-based data provider
Eurekahedge Pte.
The
fund may appeal to investors who do not have the time and resources to
research hundreds of Asia-based hedge-fund managers, said Ed Rogers,
chief executive officer of Tokyo-based Rogers Investment Advisors.
“There
is still tremendous brand equity in the Goldman Sachs name,” said
Rogers. “So many investors may well choose to put money into an untested
fund managed by Goldman Sachs Investment Partners-pedigreed individuals
rather than spend time and money on due diligence to invest in a less
pedigreed fund that has a two- to three-year track record.”
Source: Bloomberg
