Hermes BPK Partners acquired Caliburn Capital Partners' Singapore-based hedge fund business.
Under the deal, the terms of which were not disclosed, Hermes will get a four-member investment team and the management contract for the $100 million Caliburn Greater China Fund, a thematic multistrategy hedge fund of funds with a five-year track record. The fund will be renamed the Hermes BPK Greater China Fund.
Caliburn is exiting the fund-of-funds business in favor of direct investments, Jeremy Rowlands, CEO and managing partner, said in a news release.
“This is our first foray into having a team in Singapore,” said Matteo Dante Perruccio, CEO and founding partner of Hermes BPK Partners, a hedge fund-of-funds manager and adviser. Mr. Perruccio added that he plans to expand the team's focus beyond China to other parts of Asia as the firm builds customized strategies for institutional investors.
Pakenham Partners advised Hermes BPK; Caliburn did not use an adviser, according to a spokeswoman.