SAC’s First Asia-Based Manager to Start Own Macro Hedge Fund
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Yip Ka-hay, the first Asia-based manager hired by Steven Cohen’s $15 billion SAC Capital Advisors LP, plans to start a macro hedge fund in July to trade currencies, interest-rate securities and equity indexes in the region.
Yip, the founder of Hong Kong-based Bright Stream Capital Management Ltd., will start trading with as much as $25 million of his own money, he said in an interview April 12. He expects additional capital from investors will take Bright Stream Macro Fund’s size to as much as $300 million within 18 months.