KS Asia hedge fund to launch in September
The new long/short Korea fund will be named after and managed by former Kingdon Capital executive Kyle Shin.
KS Asia long/short fund will launch in September with an estimated $40 million in capital.
The Korea-focused fund is named after, and will be managed by Kyle Shin, who used to be the head of Kingdon Capital in Korea.
The intention is to soft close the fund at $150 million. The target return is 20% plus per annum with a volatility of less than two-thirds the market volatility.
ôI am especially bullish on companies in the technology sector in Korea because they currently hold a lot of cash on their balance sheets,ö says Shin. ôKorea is the second cheapest country in relation to company valuations in Asia so there is a continuous stream of ideas and possible trades available.ö
Gross exposure is expected to range between 150% and 250%, and net exposure at -20% to +50%. There is a 2% management fee and a 20% performance fee with a high watermark.
The fundÆs lawyers are Simmons & Simmons. Goldman Sachs has been chosen as the prime broker, administrators are to be confirmed.
The Korea-focused fund is named after, and will be managed by Kyle Shin, who used to be the head of Kingdon Capital in Korea.
The intention is to soft close the fund at $150 million. The target return is 20% plus per annum with a volatility of less than two-thirds the market volatility.
ôI am especially bullish on companies in the technology sector in Korea because they currently hold a lot of cash on their balance sheets,ö says Shin. ôKorea is the second cheapest country in relation to company valuations in Asia so there is a continuous stream of ideas and possible trades available.ö
Gross exposure is expected to range between 150% and 250%, and net exposure at -20% to +50%. There is a 2% management fee and a 20% performance fee with a high watermark.
The fundÆs lawyers are Simmons & Simmons. Goldman Sachs has been chosen as the prime broker, administrators are to be confirmed.
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