HONG KONG : A new China-focused hedge fund, led by a former Hillhouse Capital Management fund manager, has raised between $100 million and $150 million, marking one of the strongest launches for a China-focused fund this year.Hong Kong-headquartered Protium Capital Ltd, a long-short equity fund, will begi
HONG KONG : A new China-focused hedge fund, led by a former Hillhouse Capital Management fund manager, has raised between $100 million and $150 million, marking one of the strongest launches for a China-focused fund this year.
"Opportunities often come when most people feel risk-adverse," Protium's founder Lu Ning told Reuters. Billionaire Zhang Lei, the founder of Hillhouse - one of Asia's largest alternative investment firms - has provided seed money while other investors include business owners, financial institutions and family offices from China and Asia.Fundraising has been extremely difficult for China-focused funds this year, with most raising about $50 million or less, industry sources said, declining to be identified as they were not authorised to speak to media.
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