Man seeds Asian macro start-up

Man subsidiary RMF invests over $20 million in Singapore-based Azura Capital.

Asian hedge fund start-up Azura Capital, launched by Simran Mulchandani and Sanjay Mansabdar, has attracted seed capital investment from RMF's Hedge Fund Ventures unit HVF, which specialises in investing in early stage hedge funds. Swiss-based RMF, is a subsidiary of hedge fund giant Man Investments.

RMF would not reveal the amount of the initial investment in Azura, but a spokesperson confirmed that investment amounts in new funds range from $20 million to $40 million. Azura currently has $25 million under management.

HFV was launched by RMF in 2001 to provide assets under management to start up hedge funds in return for an equity stake,...

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