BlackRock to launch an Asian Credit Hedge Fund
|March 4th, 2010||
|BlackRock Inc is planning to launch the BlackRock Asian Credit Hedge Fund sometime this month. According Bloomberg, the hedge fund will invest in Asian corporate bonds of investment grade and high-yield securities. Neeraj Seth, head of BlackRock’s Asian corporate credit team, will be the fund’s portfolio manager. Mr. Seth previously worked at R3 Capital Management LLC, which was spun-off from Lehman Brothers in 2008 and then acquired by BlackRock in 2009.|
Mr. Seth’s new fund will be competing against another R3 Capital veteran, Assan Din who launched SaKa Capital in 2009. Saka’s flagship fund, the SaKa Capital Liquid Credit Fund, invests in Asian corporate bonds and derivatives.
Another recent launch in the space is Guan Ong’s Singapore-based Blue Rice Investment Management. Mr. Ong, who was previously the Chief Investment Officer of the Korea Investment Corporation (KIC), formed his Asian credit-focused hedge fund in 2009.
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