Ascalon Capital Managers has taken a 30 per cent stake in the Singapore-based Asian alternative manager Canning Park Capital.
Canning Park takes a fundamental long-short approach to equities management, and invests in 10 Asian markets including Australia and Japan.
The manager was founded in July 2012 by Jason Rich, David Thompson and James Hyndes.
Canning Park principal and chief investment officer Jason Rich said Ascalon would provide his firm with institutional backing as well as expertise in operations and business development.
Ascalon chief executive Andrew Landman said Canning Park was “an example of a proven manager that has delivered strong after-fee performance in a very difficult environment”.
He added that Ascalon had been monitoring Canning Park for some time.
“Ascalon believes that good quality alternative managers remain under-represented in many institutional and high-net-worth investor portfolios, and that a long-short Asian equity manager may be an appropriate solution,” said Landman.
The decision to partner with Canning Park is part of Ascalon’s strategy to develop long-term relationships with successful boutique managers in the Asia-Pacific.
Last month, Ascalon took a 35 per cent stake in Hong Kong based event-driven manager Athos Capital.
