Man Seeds Hong Kong-based Minerva Macro Fund

Date: Friday, August 21, 2009
Author: HedgeCo.Net

’ seeding fund, RMF Global Emerging Managers, has completed its second incubation deal of the last two months, providing a cornerstone investment of $50 million for Hong Kong’s Minerva Macro Fund.

In July RMF GEM invested $50 million in the flagship product of 5:15 Capital Management, an unrelated fixed income arbitrage manager based in Connecticut.

Minerva is managed by Stanley Ku, who founded the Hong Kong office of Fortress Investment Group and most recently managed $750 million for Fortress’ Drawbridge Fund. Dorothy Lau, Minerva’s risk and business manager, formerly worked for JP Morgan and Goldman Sachs.

“Stanley Ku’s work at Fortress and Goldman Sachs has made him a very well respected in Asia,” said Hans Hurschler, head of Ventures. “We believe that Minerva has the potential to generate solid, stable returns and that it may attract substantial assets.”

Minerva is a discretionary fund, focused on Asia. It trades only highly liquid instruments such as interest rate or bond futures, foreign exchange forwards and futures or sector ETFs. The entire portfolio is designed to be liquidated in 48 hours.