Arrowpoint Investment Partners gains support from CPPIB, Temasek, and Blackstone for its hedge fund
Arrowpoint Investment Partners, one of Asia’s largest hedge fund launches this year, has secured investments from the Canada Pension Plan Investment Board (CPPIB) and a unit of Singapore’s Temasek Holdings.
According to Reuters, these investments follow Blackstone, which had already seeded the new Singapore-based fund.
Joo Lee, co-founder, and chief technology officer at Arrowpoint, confirmed in a LinkedIn post that “Blackstone, Temasek, and CPPIB have confirmed their support as our seed backers.” Bloomberg reported the fund-raising and noted that Seviora Capital, a unit of Temasek, was one of the seeders.
Founded by Jonathan Xiong, former Asia co-CEO of Millennium Management, Arrowpoint is expected to start trading in July with over 15 portfolio managers. The firm has also hired staff in Hong Kong. Regulatory records show that Xiong left Millennium Management last September.
Reuters reported in February that Arrowpoint had raised about $1bn. The firm did not respond to a request for comment.
Multi-manager, multi-strategy funds have gained favour among investors for their low volatility and risk diversification. Arrowpoint’s launch is expected to increase competition for talent in the region, posing a challenge to established hedge funds like Polymer Capital Management and Dymon Asia Capital.