Big-name Asia hedge funds raise billions but start-ups struggle amid pandemic

Tribeca saw assets swell by about US$1 billion between March and September, half of which was new money.
Tribeca saw assets swell by about US$1 billion between March and September, half of which was new money. PHOTO: REUTERS

HONG KONG (BLOOMBERG) - Established Asian hedge funds have attracted the lion's share of new money this year, while start-ups have been hamstrung by global travel curbs that have made it impossible for face-to-face meetings with European and US asset allocators.

Well-known firms including Tribeca Investment Partners, Pleiad Investment Advisors, Dymon Asia Capital (Singapore) and Sylebra Capital have drawn more than US$3 billion (S$4.1 billion) of new money among them this year. That contrasts with the net US$3.1 billion that flowed out of regional funds in the first eight months of 2020, according to Eurekahedge. Meantime, the median raising for new Asia funds this year is just US$20 million.

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