|Senrigan Capital, a new event-driven hedge fund manager founded by Nick Taylor, is preparing to launch its maiden Senrigan Master fund on November 2nd. Mr. Taylor was formerly an executive at Citadel Investment Group where he headed Asian and European principal investments, according to Bloomberg. |
Senrigan Capital, a rarity in the recent line of smaller fund launches, has investors committed to at least $220 million. Senrigan Capital will invest in publicly-traded Asian securities, principally employing event-driven and capital structure arbitrage strategies.
The fund is backed by the Blackstone Group, a major private equity firm, which has provided Senrigan with $150 million in seed capital for the next three years. Senrigan will be the largest start-up to focus on Asia since the launch of Broad Peak Investment Advisers in May of 2007, which opened with $1 billion. So far this year, 40 new hedge fund start-ups have launched with Asian focuses, raising on average less than $20 million each, according to Eurekahedge.