A former managing director at Royal Bank of Canada, is establishing a Singapore based Asian event-driven hedge fund.
Former Royal Bank of Canada Trader Damian Edwards has started his Asia Event-Driven Hedge Fund to take advantage of a surge in mergers and acquisitions in the Asia-Pacific region.
Based in Singapore, «Metrica Partners» plans to start this month with $25 million, Edwards said in an interview with «Bloomberg».
The equity-focused fund currently has five staff and will invest about half its money in Japan, with the remainder split between Hong Kong and the rest of Asia.
More Opportunities in Asia
Edwards knows the region well having worked in all of the major Asian financial hubs. He is joined at Metrica by David Mulvenna who is the Chief Operating Officer.
He was formerly a Managing Director at Royal Bank of Canada in Hong Kong and worked in the Strategic investment Group at Morgan Stanley also in Hong Kong. Prior to that he spent over three years in Tokyo with Jardine Fleming Securities.
«In the event-driven space, there are more opportunities in Asia than in any other part of the world, the main reason is that there are more firms here that have lots of cross-holdings or complex layers of listed securities which perform differently under different scenarios,» said Edwards.
