HS Group to invest in new Hong Kong hedge fund Pleiad

By VCPOST Staff Reporter

Apr 21, 2014 09:52 AM EDT

HS Group Ltd (HSG) will be making its first investment in Hong Kong-based hedge fund Pleiad Investment Advisors. Although the exact amount to be invested is unconfirmed, Pleiad received a total commitment of over $150 million from its founding partners, HSG, and its affiliates, according to Hedge Week.

HSG founder and chief executive officer (CEO) Johannes Kaps said: "We are firmly committed to building an institutional, best-in-class investment firm with experienced partners overseeing the day-to-day running of the business. Pleiad's COO and CFO have a combined 37 years of industry experience, the majority of which was spent at Goldman Sachs in Asset Management and Prime Brokerage. The COO also spent a decade at one of Asia's longest standing alternative investment firms, most recently as its COO."

Pleiad was established by former Soros Fund Management executives Kenneth Lee and Michael Yoshino. The new fund will be launched in the third quarter of 2014, the report added.

Most of the hedge fund's initial capital will come from HSG's private equity vehicle Sponsor Fund, which focuses on Asian hedge funds. HSG will provide long-term funding and coaching to help Pleiad build its potential, Hedge Week reported.

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