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July 11, 2006
Exile’s Son To Float Hedge Fund
The father underwent a prison sentence for the crime of opposing the government of Singapore, endured bankruptcy, and is now in a forced state of exile. But that hasn’t deterred the son from dreaming of launching his own hedge fund.
Kenneth Jeyaretnam, a City derivatives trader, and son of JB Jeyaretnam, the infamous leader of Singapore’s socialist opposition, is getting ready to float Stamford Global, a hedge fund with an initial investment of $500 million.
The fund is targeting the Asian and Australasian markets, but is not ruling out a foray into North America. However, Jeyaretnam says he will steer clear of the “crowded” United States space. For now, the fund has obtained its FSA authorization through Noble Asset Management, but will apply for authorization in another six months. The UK Guardian reports:
The fund will invest in situations sparked by corporate events, such as a merger or a bankruptcy. According to a source close to the fund, “Stamford will wait for the announcement before analyzing and then making an investment. The fund has a structured framework. Its managers are not making a guess.”
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