(Correct spelling of Walsh’s last name in fifth paragraph.)
GLG Partners Inc., a unit of the world’s largest publicly traded hedge fund manager, formed a long-short equities team in Asia co-headed by a former fund manager at Singapore’s sovereign wealth fund, seeking opportunities in the region’s stock market.
The team based in Hong Kong will be led by David Mercurio, who joined the London-based unit of Man Group Plc (EMG) as the head of Asia equity and co-head of its global equity strategies from Government of Singapore Investment Corp. in September, according to an e-mailed statement from GLG. Ben Freischmidt, former co- founder of Singapore-based hedge fund LionRock Capital Pte, will also head the team, according to the statement.
GLG is starting its first team in Asia dedicated to seeking opportunities in rising and falling stocks after Man Group last year hired Mercurio as its first Asia-based fund manager focused on stocks. Asia-Pacific including Japan and Australia now account for about 30 percent of global stock market value, according to data compiled by Bloomberg.
“When we started the European Long Short strategy 11 years ago, the environment in Europe looked very like it does in Asia today, with strong longs and shorts likely to emerge,” Pierre Lagrange, GLG co-founder and chairman of Man Group’s Asia business, said in the statement.
Mercurio and Freischmidt will be joined by David Walsh, a specialist focused on investments in industrial companies, Nick Vidale who specializes in financial institutions, Sahil Khanna, who follows consumer and telecommunications industries. Carl Esprey, who specializes in materials, will be based in London, according to the statement.
GLG was bought by Man Group Plc in 2010.
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