Hedge Funds Reap Cash From Investors ‘Starved’ of Japan Exposure

Nick Bird’s OQ Funds Management opened a Japan quantitative hedge fund in September. Within weeks, it raised the maximum $250 million and had to turn away additional money, the former Macquarie Group Ltd. veteran said.

Meanwhile, Sengu Capital Ltd.’s hedge fund tapping improving corporate management in Japan has tripled assets to $450 million after trading began in early October, said people familiar with the Hong Kong-based firm. A multi-strategy Japan fund that York Capital Management spinoff MY.Alpha Management opened to external clients in early 2023 now oversees about $700 million.

Their pace of asset gathering, impressive for Asia hedge ...