A group of former Credit Suisse staff, led by Australian investment banker John Wylie, has started an Asia-Pacific credit investment fund to take advantage of banks reining in lending.
Bloomberg News reports that Tanarra Credit Partners has raised more than A$285 million ($216 million) for its Asia-Pacific Fund I, which will invest in senior and mezzanine debt, and is targeting as much as A$500 million before closing the fund to investors in the first half of 2018, Managing Partner Michael Tierney said.
Atsuo Ogaki and Damien Loh have established Ensemble Capital Pte Ltd. in Singapore with capital $75 million from high-net worth investors, family offices and institutional investors, Ogaki, who has taken the chief executive officer role, said in an interview.
The fund aims to generate annual returns of 15 percent, Ogaki said. “We want to stick to our original objective as a hedge fund to pursue absolute return and eliminate correlations with traditional asset classes.”