|Sparx Group Co. recently announced its plans to launch a long/short hedge fund to invest in Asian companies that will benefit the most from the region’s growth, using Japanese successes as benchmarks for company potential. According to Bloomberg, Sparx hopes to raise $200-$300 million for the new venture and to start it in the first quarter of 2011. The new hedge fund is one way Sparx’s CEO Shuhei Abe is attempting to redesign his firm into an Asian-focused asset manager.|
Sparx’s long/short hedge fund will be based in Tokyo and run by a team of Sparx veterans from its Hong Kong and South Korean units. The venture will be particularly interested in Asian companies focused on agriculture, green technology, and food.
Sparx Group Co. is an independent asset management specialist and hedge fund manager that was founded in 1989 by President and Chief Investment Officer Shuhei Abe as Sparx Asset Management Co. Ltd. Covering the Asia-Pacific region, Sparx Group Co. is now a holding company for multiple entities such as the SPARX Asset Management Co. Ltd. (SAM), SPARX Securities Co. Ltd. (SEC) and SPARX Capital Partners Co. Ltd. (SCP), and overseas affiliates and subsidiaries.