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