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Sunwah To Buy RAB Capital Funds

Sunwah International Asset Management, a unit of Sunwah International, is acquiring two funds from hedge fund firm RAB Capital.

Sunwah International Asset Management, a unit of Sunwah International, is acquiring two funds from hedge fund firm RAB Capital. The Energy Fund has about $250 million in assets under management, while the Octane Fund has about $70 million in assets, adds The New York Times.

An alternative asset manager may invest about $50 million in the two funds. The firm may use about $200 million to back stop redemptions and secure the capital of the funds. Sunwah may also acquire an 80% stake in alternative asset management firm PCE Investors.

Click here for the release from Canada Newswire.

Click here for the additional coverage from The New York Times.

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