Hedge Fund With $1.5 Billion to Shut as Team Joins ExodusPoint (opens original article in a new tab)

A Hong Kong hedge fund with $1.5 billion will shut as its team joins US firm ExodusPoint, which is expanding its Asia operations.

• Ovata Capital Management Ltd., a Hong Kong hedge fund with $1.5 billion, will shut down as its founder and most staff join ExodusPoint Capital Management.
• ExodusPoint will add Ovata's Chief Investment Officer James Chen as head of equities for Asia, bringing most of Ovata's 40 employees with him.
• ExodusPoint, a $14.5 billion US firm, is expanding into Asia, leveraging Ovata's multistrategy investment approach and Chen's experience in Asian markets.