Ercil to shut $3 billion hedge fund in family office pivot
Alp Ercil is closing his $3 billion flagship hedge fund after a moneymaking year run and will convert his firm into a family office, said a person familiar with the matter.
Ercil is winding up Asia Research & Capital Management Ltd.’s (ARCM) distressed-asset fund for personal reasons and has been notifying investors and employees in recent days, said the person, who asked not to be identified discussing private information. Yusuf Haque, ARCM’s COO, declined to comment.
ARCM has been one of the largest distressed-asset firms in Asia, investing across equity, credit and commodity markets in the region and globally. The Hong Kong-based firm had just one annual loss — of 1% — since its inception, said the person.
ARCM will maintain a smaller staff to manage partner capital after the hedge fund closes and money is returned to investors, said the person, declining to share further details.
Ercil, 51, honed his skills making global investments in energy and cyclical industries at New York-based Perry Capital, in addition to wearing the Asia head hat. He founded ARCM in , staffing it mostly with colleagues from Perry
Perry Capital Cuts Alp Ercil, George Brokaw and Andy Isikoff
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Alp Ercil to Close $3 Billion Hedge Fund, Transitioning to Family Office
Veteran investor Alp Ercil is shutting down his $3 billion hedge fund, marking the end of a successful year run, as he shifts his firm’s focus to managing family wealth. According to a source familiar with the decision, Ercil is winding down Asia Research & Capital Management Ltd. (ARCM) for personal reasons and has been informing investors and staff about the transition.
ARCM, a Hong Kong-based firm specializing in distressed assets, has been a major player in Asia, investing across equity, credit, and commodities. Since its launch, the fund has recorded only one minor annual loss of 1%. Following its closure, ARCM will retain a smaller team to oversee partner capital.
Ercil, 51, built his expertise in global investments at Perry Capital before launching ARCM in , initially recruiting colleagues from Perry’s Hong Kong office. The firm later expanded to Dubai during the pandemic.
A History of Strategic Investments
ARCM’s flagship distressed fund, the fourth in its series, has delivered a % annualized return over the past five years. In , during the pandemic-driven market downturn, the firm seized o
Former regional head of New York-based hedge fund Perry Capital LLC, Alp Ercil, obtained USD billion in investment commitments for his second Asian fund for distressed assets, said two sources who were familiar with the matter. The ARCM Master Fund II will be focusing on making three to five-year investments in equity and credit securities, disclosed the sources, who refused to be named as the matter was not for the public.
Bloomberg said in its report that Ercil-run Hong Kong-based company Asia Research & Capital Management Ltd has been seeking money for its second fund after it had placed USD million in capital in its maiden vehicle that started last year, the sources said.
When Bloomberg asked ARCM's head of operations, Bill Wong about the new fundraising, he refused to provided one.
Bloomberg said banks worldwide had reduced its investments in Asian lending and distressed assets after tighter regulatory scrutiny of the banks' investments were imposed since The European debt and global financial crises had occurred that year, enabling global regulators to tighten banking regulations. ACRM and another Hong Kong-based company, PAG, started to create funds for loans and d
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