Clarendon Spins Off Asia Fund
Posted by Colin Lambert. Last updated: January 6, 2023
Clarendon Arbitrage Fund has announced the spin-off of its Asia business, CAF Group. The company says CAF Group will focus on providing prime asset management services to accredited investors in Asia. Additionally, it will function as liquidity providers for futures exchanges.
Steven Chen has been named a senior partner at the newly established CAF Group, he has been with Clarendon Arbitrage Fund for over 11 years, the last five of which he has been MD of the Asian business. Clarendon Arbitrage Fund says it will play a role as a substantial and long-term ally to CAF Group and provide it with middle office infrastructure, under a licensing agreement.
“Today’s actions propel our ability to create value for investors,” the firm says in a statement. “Conservative portfolio management is the characteristic of our growth strategy. Our management team and board continually evaluate strategic options that will best drive long-term sustainable growth and value. The decision to spin off our Asia business will result in two world-class companies, well positioned to pursue their achievements.”