Ex SAC manager to start Hong Kong hedge fund

05 May 2014   Category: News, Global, Hong Kong, Asia Pacific   By Daniel Shane

Former SAC Capital Advisors portfolio manager Andrew Bazarian is in the process of setting up a Hong Kong-based hedge fund, according to the Wall Street Journal, with one of Alibaba’s co-founders as a potential investor.

The newspaper said that Mr. Bazarian, who spent ten years with SAC before departing the firm’s Hong Kong office earlier this year, will use the new firm to bet on rises and falls in equities.

Alibaba co-founder Joe Tsai is reportedly among potential investors for the firm, although this has not been confirmed.

Mr. Bazarian joined SAC in North America in 2004, before moving to Asia four years later, where he helped run the firm’s capital markets operations.

Hedge fund SAC changed is named to Point72 Asset Management earlier this year following a major insider trading scandal.