HONG KONG (Reuters) – Former Goldman Sachs trader Morgan Sze is set to launch his highly anticipated $1 billion-plus hedge fund in Hong Kong on Friday, three sources familiar with the plan told Reuters.
Sze’s Azentus Capital has received commitments of more than $1 billion for his multi-strategy fund, said the sources, who declined to be identified because the plan has not been made public.
The launch comes as a growing number of high-profile traders plan hedge funds as Goldman and other Wall Street banks shut proprietary trading desks in response to the “Volcker rule.”
That rule limits the risks banks can take with their own capital in the wake of the global financial crisis.
“It’s a long time since Asia has seen a launch of that size,” said Andrew Gordon, head of alternative investment services at BNY Mellon in Asia Pacific.
“I think it’s the sign of the ongoing progress of the industry which
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