Ex-Morgan Stanley property guru Peter Churchouse has teamed up with Hong Kong-based LIM Advisors, one of Asia's earliest hedge funds, to launch the LIM Asia Alternative Real Estate Fund. LIM Advisors was founded by George Long, in 1996, and currently runs an Asian arbitrage hedge fund as well as a Japan fund.
This is a fairly novel product, says Churchouse. Globally there are only a handful of real estate-focused hedge funds and in Asia this will be the first.
The fund's investment universe will span the region, and will include investments in both real estate-related securities as well as physical property.