Hong Kong alternative investment conglomerate Sung Hung Kai & Co (SHK) has invested an unspecified amount in a Europe-focused fund overseen by local quantitative manager ActusRayPartners that has an initial fundraising target of US$100 million.
It comes two months after SHK invested $165 million in a pair of Hong Kong-based investment firms, East Point Asset Management and E15 VC.
The ActusRayPartners European Alpha Fund, which was launched on March 18, focuses on listed stocks in Europe across all sectors. SHK says in a statement on March 23.
The investment philosophy of ActusRayPartners complements SHK’s other partnerships, according to Seng Huang Lee, group executive chairman of the conglomerate.
“Their approach is designed to generate alpha that is less correlated with the other managers,” he says in the statement.
ActusRayPartners was founded in late 2019 by a trio of former Macquarie Group portfolio managers.
SHK had around HK$44.08 billion ($5.65 billion) of total assets as of December 2020.
