The Singapore-based credit hedge fund manager is closing its two strategies and will return money to investors at the year-end, says founder Guan Ong.
Jay Lee joins Blue Rice Investment Management in Singapore from Goldman Sachs Asset Management and takes responsibility for marketing and capital-raising.
The deal will help to open doors in Europe for Singapore-based hedge fund manager Blue Rice IM.
The chief executive at the young Asia credit shop Blue Rice seeks to strengthen the fund's governance.
Guan Ong, now running a credit hedge fund, says Asian fixed income will offer more to institutional investors facing hedging challenges.