Singapore credit and fixed-income specialist hedge fund Blue Rice Investment Management has hired Jay Lee as senior marketing director to handle the marketing and capital-raising duties for the fund.

In this newly created role, he will report to Blue Rice principal and founder Guan Ong.

Korean national Lee previously worked as head of Goldman Sachs Asset Management (Korea) focusing on sales and marketing from 2007 to 2009.

He was also one of the founding partners of Macquarie-IMM Asset Management (Korea), a joint-venture between Macquarie Bank and IMM which was established in 2000. He headed that business from 2002 to 2007.

Ong first met Lee during the former’s spell in South Korea as chief investment officer at Korea Investment Corporation from 2006 to 2009, before he returned to Singapore to set up Blue Rice.

The BRIM Asian Credit fund was launched in 2009 and today stands at about $60 million in size, having recently finalised a seeding arrangement with NewAlpha Asset Management. The fund is approximately halfway to realising its target return of 7%-10% so far in 2011.