FINANCEASIA.COM, JANUARY 2005
The Asian Debt Fund, a Singapore-based distressed debt manager launched by ex- Lazard banker Moe Ibrahim, has soft-closed the first tranche of its fund, having surpassed $55 million within the one year since its launch. The fund is sponsored by Finansa, a Bangkok-based investment bank, and Japan Asia Investment Corporation, a Tokyo-based venture capital company.
The Asian Debt Fund was one of the best performing Asian hedge funds in 2004, returning 25% to mid December with no down months. The fund returned 5% during the month of October. By contrast, the ABN Amro Eurekahedge Index for Asian hedge funds was up just 4% to mid-December.
"The class-A tranche of the fund was closed to new investors at the end of 2004," says Ibrahim. "We will open the class-B tranche, with the only difference being that investors in this tranche will not enjoy a hurdle rate of 8% that early investors
receive."
Read the complete article (PDF) >
|
