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A quiet renaissance for hedgie Chris Hsu

No fanfare this time, as the founder of Abax Global Capital starts investing for his new hedge fund in Hong Kong, Kilometre Capital Management.

Special-situations veteran Chris Hsu has started a new alternative investment vehicle in Hong Kong named Kilometre Capital Management.

The firm runs an Asian long/short equity strategy focused on selected Asian growth equity investments. Initial assets under management are around $200 million. 

The fund is closed and not being marketed. Kilometre is backed by US alternative investment group Paloma Partners. Since the 1980s, Paloma has been the early backer for a number of prominent hedge funds including David Shaw at DE Shaw.

Taiwanese native Hsu started Abax Global Capital, now a leading Asian special-situations fund, as chief executive in late 2006. He was previously a managing director at Citadel Investment Group, having established Citadel's special-situations business in Hong Kong. 

Hsu left Abax in late 2008. At that time, he had indicated he believed in a more liquid equity strategy, and that has now come to fruition with Kilometre Capital.

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