11/20/2013

Anji Capital Founder Builds New Operation

Kevin Chen, a former Amundi Asset Management executive who made headlines in 2011 with the opening of a fund shop called Anji Capital, is getting ready to start a new business.

Chen recently has been talking to market players about launching a fund operation dubbed TigerBridge Capital ó either as an affiliate of Anji or as a successor to that business. Chen confirmed his plans to launch a global-macro vehicle, but was coy about whether it would be managed by Anji or a new firm. He also said he has since dropped the TigerBridge label and has yet to settle on a new name.

Itís unclear how much money Chen is running at New York-based Anji ó or even whether the firm ever launched a hedge fund. A performance sheet reports early returns amounting to a 7.4% gain for the first eight months of trading, although that could have been for a separate account. In 2011, Chen began marketing an Asia-focused vehicle dubbed ACM Fund, but the SEC has no record of a private fund by that name.

As for the new business, a source said Chen has been talking to prospective backers about a vehicle that would begin trading in January with more than $10 million. The fact that Chen originally intended to christen the fund TigerBridge suggests he may have been hoping for backing from Julian Robertsonís Tiger Management. Tiger is among the best-known brands in the hedge fund industry, and the firm is fiercely protective of its trademark.

Chen formed Anji in 2011 with seven partners and plans to launch a fund with $50 million to $100 million. Among the founding principals were Michael Cheah, who previously worked at the Monetary Authority of Singapore, and former SAC Capital global-macro trader Ludan Liu. Both have since left Chenís firm.

Chen is an Asia specialist whose credits include running up to $2 billion at Amundi. He previously worked as a portfolio manager at Morgan Stanley, and before that traded currencies at China Development Bank.

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