A senior adviser to China’s National Social Security Fund and a former Asia prime brokerage head at Morgan Stanley are teaming up to start a China-focused hedge fund in September.
JT Capital Management is aiming to raise $100 million for the fund, said Chief Investment Officer Larry Zhang, who has advised the $130 billion plan on its global investments for the last two years. The fund will trade Chinese stocks listed domestically or on an international exchange such as Hong Kong or the U.S., he said.
“We are building an institutional quality investment platform with local information access, and it offers a high level of transparency,” Mr. Zhang said in a telephone interview.
Mr. Zhang will be JT Capital’s co-CEO with Kurt Baker, who headed Morgan Stanley’s prime brokerage unit in Asia before leaving in November 2008. Mr. Zhang will oversee investments at JT Capital, and Mr. Baker will be in charge of operations, the former said.
Before returning to China two years ago, Mr. Zhang was a partner of hedge fund manager GSA Capital Partners, running its global market-neutral equity investments.
Before GSA, Mr. Zhang managed Asia ex-Japan long-short equity investments for BGI.