|Bloomberg: Petrel Capital Greater China Hedge Fund Gains 4.4% in June||
Petrel Capital Management Limited’s Greater China hedge fund rose 4.4 percent in June, according to a letter to investors seen by Bloomberg. That brings the long-short equity fund’s first-half gain to 13.4 percent.
The fund, which primarily invests in small-cap, Hong Kong-listed Chinese companies, benefited in the first six months from investments in Logan Property Holdings Co., Ten Pao Group Holdings Ltd., and Yihai International Holding Ltd., according to the letter.
Petrel Capital, which was founded in 2015 and seeded by Oasis Management Co. chief investment officer Seth Fischer, is led by founder and portfolio manager Rawen Huang, who previously worked at Oasis as an investment analyst covering Chinese companies.
The fund was launched via the fund platform at OP Investment Management, which provides startup managers with office space and infrastructure, and helps with choosing service providers such as lawyers and prime brokers. OPIM added 12 hedge funds to its platform in the first half of this year, after adding 18 funds in 2016, according to chief executive officer Alvin Fan.