The fund of hedge fund manager intends to seed 5-6 hedge fund managers with its flagship Penjing Asia Fund and will begin the pool with USD 25 million. The new fund will have fewer seeding restrictions than Penjing’s existing funds of hedge funds, which cap any single holdings at 5% of their investments in order to mitigate risk through diversification. Penjing will look for candidates that meet at least one of the following criteria: strong performance; unique investment strategy; or the potential to rapidly expand assets. Its seeding activity will focus on start-ups but it may also include new offerings from hedge fund managers that have been in operation for a while. Penjing’s seeding investments so far range from USD 5 million to USD 15 million each. Future investments could amount to as much as USD 25 million after the new pool is set up.
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