Snow Lake Capital, a Hong Kong-based hedge fund that bought up Chinese stocks during the wind down of Archegos, is liquidating one of its two funds after the resignation of both of its portfolio managers.
Paul Kim and Yusuke Saito, who both previously managed money at Louis Bacon’s Moore Capital Management, have quit the Asian investment manager after helping it launch its pan-Asia strategy in 2018.
Their departures mean Snow Lake, which manages around $2bn of assets, will stop investing in Japan and Hong Kong, two of its three key Asia markets. Instead it will retrench to its original focus of investing in China, according to a person close to the fund.
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