Samena Capital has established a presence in Hong Kong by acquiring Vision Asia Pacific, a subsidiary of the Vision Investment Management, an investment management firm. Samena has not yet disclosed the deal size.
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Vision Investment Management, which is managed by Julius Wang, has $75 million Angel Fund under management. The acquisition will help Samena Capital in expanding its Asia presence, enabling its foray into the Hong Kong markets.
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Samena Capital already manages a $200 million special situations fund and would be adding another $75 million to its assets under management post the acquisition of Vision Asia Pacific. It also raising money for a Japanese fund.
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Vision’s founder CEO and CIO, Jerry Wang, will join the Samena Board and Vision will become a shareholder. Vision also plans to continue with its core business pf managing funds of hedge funds.
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Samena is also looking at setting shops in India and Japan by the middle of the next year and has also proposed the opening of an office in the Middle East, reports Reuters. Samena Capital is led by its president Shirish Saraf, who co-founded Abraaj Capital in 2002. According to a report in Asian Investor, Samena, is looking at creating a capital reserve of $50 million for acquiring asset managers and consolidating them.
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Samena was set up in February 2008, by a group of entrepreneurs from India and Middle East. Its first fund, which was a special situations fund, has yielded a 32% interest since its closing in August 2008.
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Julius Wang joined Vision in 2006. Prior to that, he started the Asian investment operations for a US-based multi-strat fund. He has also worked at Search Partners, where he managed a multi-billion dollar portfolio of hedge funds.