Hedge fund manager Orchard Capital Partners, which spun-off Stark Investments in 2009, said it has launched a new long/short fund on Thursday which it aims to grow to $500 million in two-three years.
Orchard was formed in October 2009 after Teall Edds and Stuart Wilson who were running Stark's Asia investments quit the Milwaukee-based hedge fund taking the firm's Hong Kong and Singapore operations with them.
Orchard has around $400 million in assets under management in equities, illiquid credit and multi-strategy funds. The hedge fund manager is also a sub-adviser to some of Stark's investments in Asia.
This new long/short fund will look to invest across the region, most notably in Australia, South Korea, Hong Kong, Singapore, Japan, India, China, Taiwan and Indonesia, said Orchard Capital in a statement.
“When we established Orchard late last year, we did so with the intention that equities would ultimately make up about half of our business,” said Edds, who is a principal at Orchard.
Orchard Capital hired Alex Lin from Credit Suisse as a senior portfolio manager in October and launched an equity fund for an outside investor in November.
Source: Reuters
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