Demand is slowing down, addressable market of various businesses are shrinking, competition has intensified, business sentiments are low, world’s biggest economies are in recession and market valuations are at historic lows—seriously, the time has come to witness history’s biggest consolidation phase. We intend to re-start our blog to track the M&A and PE related events in India and in the world which will have likely impact on India. Keep visiting.
Friday, April 10, 2009
TPG-Axon, Goldman Vets Found Asian Multi-Strategy Fund
A co-founder of TPG-Axon Capital Management and a colleague are putting up $75 million of their own money to set up a new hedge fund. Hari Kumar and Julian Snaith have founded Singapore-based LionRock Capital. The new multi-strategy fund will focus on Asia-Pacific stocks, Bloomberg News reports, and will begin trading on June 1. Kumar and three other Goldman Sachs veterans established TPG-Axon in 2005. The hedge fund now manages $14 billion in assets. Kumar, who left the firm last year, had been based in Hong Kong. Snaith also worked at Goldman’s principal strategies group and was a principal at TPG-Axon. According to Bloomberg, LionRock may eventually raise money from outside investors
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