SINGAPORE (Reuters) – Samena Capital, a one-year-old UK-based fund manager, said on Tuesday it will expand into Asia by taking over Hong Kong investment firm Vision Asia Pacific.
Samena, which manages a $200 million special situations fund and is in the process of raising money for a Japanese fund, will add $25 million to assets under management after absorbing its Hong Kong counterpart.
Samena was set up in February 2008 by a group of mostly Indian and Middle Eastern entrepreneurs including Atul Punj, the founder of Indian engineering and construction firm Punj Lloyd (PUJL.BO).
The firm last month launched a Japanese long/short equity fund with about $25 million in seed money that it hopes to grow to over $100 million [ID:nT139125]. (Reporting by Kevin Lim; editing by Dhara Ranasinghe)