Woori Absolute Partners (WAP) has partnered with European hedge fund specialist NewAlpha Asset Management to launch a new Asia-focused investment vehicle, The Asset reports. The new vehicle is designed to seed emerging hedge fund managers. The firm’s are targeting a final closing of about $200 million by the end of next year. Singapore-based alternative investment WAP and NewAlpha previously co-seeded the Singapore based Asian credit hedge fund, Blue Rice Investment Management.
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