Strong Demand Seen for Hong Kong Launch
An equity hedge fund operation in Hong Kong is on the launch pad.
Hari Ravisankar and Silas Xu formed Ishana Capital in the last couple of months. Given their backgrounds at well-regarded, multi-billion-dollar fund managers in Hong Kong, the launch stands to get a strong reception from investors in Asia and the U.S.
Ravisankar was a partner at Janchor Partners, an investment firm that targets stocks in a relatively small number of Asian companies. While employed there, Ravisankar handled shares in Indian companies and Asian internet businesses.
Xu worked at Turiya Advisors, a fund operator that takes concentrated equity positions. During his nearly five-year tenure at Turiya, Xu focused on a broad range of China-related stocks, overseeing a gross allocation of more than $1 billion.
Given their mandates at their previous employers, Ravisankar and Xu are likely to follow an Asia-focused, fundamental, long/short equity strategy at their new firm.
Mark Wittet, who previously worked at Deutsche Bank and Goldman Sachs, has joined Ishana as chief operating officer. Also on board are chief financial officer Sze Man Chan and Madhukar Upadhyayula, who previously worked at Merrill Lynch in Mumbai.
Before joining Janchor in 2011, Ravisankar worked at Wolfacre Global and Chilton Investment in New York. Xu worked at Bejing venture capital firm Kaiwu Capital and Blackstone, where he focused on private-equity investing in the U.S. and China.
Janchor is led by John Ho, who previously worked at Citadel and The Children’s Investment Fund. Turiya is run by Davide Erro, who previously ran Gandhara Capital, which peaked at $3.8 billion before it shut down following the financial crisis. U.S. institutions are among the investors in funds run by Janchor and Turiya.