|An Asian equity long-short hedge fund called Iridium Asset Management focusing on commodity-related industries will be launched on May 3rd in Singapore by CEO Jason Wang, an ex-manager from GLG Partners, and Simon Quirke, an ex-manager of Lionhart Advisors Group Ltd.’s Asian investments. A recent Bloomberg article states that most of the money invested in the Iridium Alpha Fund, which is predicted to grow to $100 million within a year, is from ultra-high-net-worth individuals. The fund will initially have thirty to fifty securities and trade equity and commodity derivatives of Asian commodity companies to take advantage of their inefficiencies.|
At GLG, Mr. Wang was a manager focusing on resources and industrials in the London investment team for the firm’s $2 billion European long-short fund and before that he was a global equities-focused senior proprietary trader at Oversea-Chinese Banking Corp. in Singapore. At Lionhart, Mr. Quirke managed a long-short portfolio for the firm’s global multistrategy fund and has twenty years of experience in trading equities.