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{{Infobox company
{{User sandbox}}
| name = Maso Capital Partners Limited
<!-- EDIT BELOW THIS LINE -->
| logo =
| logo_size = 220px
| logo_alt =
| type = [[Private company|Private]]
| industry = [[Hedge fund]]
| founded = {{start date and age|2012}}<ref>{{cite web |title=Maso Capital Partners Ltd - address, contacts, directors |url=http://www.hkong.net/299743-maso-capital-partners-limited/ |website=www.hkong.net}}</ref>
| founders = {{plainlist|
* Manoj Jain
* Sohit Khurana
}}<ref>{{cite news |title=Exclusive: Ex-Tudor manager sets up own Singapore shop - sources |url=https://www.reuters.com/article/idUSBRE9090UW20130110 |work=Reuters |date=10 January 2013 |language=en}}</ref>
| key_people =
| hq_location_country = Hong Kong
| aum = [[United States Dollar|US$]] 300 million
| products = [[Hedge fund]]
| website = {{url|www.masocapital.com}}
}}
⚫
'''Maso Capital Partners Limited''' is a Hong Kong-based [[Hedge fund|hedge fund]] that was founded and is run by Manoj Jain and Sohit Khurana. The fund is registered in the [[Cayman Islands]] under [[Cayman Islands company law]] and headquartered in [[Central, Hong Kong]].<ref>{{cite news |title=Hedge Funds Demand Chinese Buyers Pay More in M&A Deals |url=https://www.bloomberg.com/news/articles/2017-11-21/hedge-funds-are-demanding-chinese-buyers-pay-more-in-m-a-deals |work=[[Bloomberg News]]}}</ref><ref>{{cite news |title=Cayman lawsuits challenge valuations of delisted Chinese companies |url=https://www.ft.com/content/ed8768f4-fd1a-11e6-8d8e-a5e3738f9ae4 |work=[[Financial Times]]}}</ref><ref>{{cite web |title=Maso Capital (Hong Kong) |url=https://www.macquarie.com/dafiles/Internet/mgl/msg/iConference/documents/Australia/ANZ%20Corp%20Day%202017/HKInvestor%20Profiles2017.pdf |publisher=[[Macquarie Group]]}}</ref><ref>{{cite web |title=List Mutual Funds |url=https://www.cima.ky/upimages/commonfiles/1499783502ListMutualFunds.pdf |publisher=cima.ky}}</ref>


== History ==
⚫
'''Maso Capital Partners Limited''' is a Hong Kong-based [[Hedge fund|hedge fund]] that was founded and run by Manoj Jain and Sohit Khurana, registered in the [[Cayman Islands company law]] and headquartered in [[Central, Hong Kong]].<ref>{{cite news |title=Hedge Funds Demand Chinese Buyers Pay More in M&A Deals |url=https://www.bloomberg.com/news/articles/2017-11-21/hedge-funds-are-demanding-chinese-buyers-pay-more-in-m-a-deals |work=[[Bloomberg News]]}}</ref><ref>{{cite news |title=Cayman lawsuits challenge valuations of delisted Chinese companies |url=https://www.ft.com/content/ed8768f4-fd1a-11e6-8d8e-a5e3738f9ae4 |work=[[Financial Times]]}}</ref>
Maso Capital was founded in 2012 by two longtime managing directors at [[Sculptor Capital Management|Och-Ziff's]] Asia fund, Manoj Jain and Sohit Khurana, when they decided to start their own Asia hedge fund focused on [[event-driven investing]], [[Risk arbitrage|merger-arbitrage]] and [[convertible arbitrage]].<ref>{{cite news |title=Hedge funds are demanding China buyers pay more in M&A deals |url=https://www.businesstimes.com.sg/banking-finance/hedge-funds-are-demanding-china-buyers-pay-more-in-ma-deals |work=The Business Times |date=22 November 2017 |language=en}}</ref> The name Maso Capital was chosen as a play on the founding members first names.<ref name=":0">{{cite news |title=Two former Och-Ziff employees establish Maso Capital in HK |url=https://www.hedgeweek.com/2012/06/21/168621/two-former-och-ziff-employees-establish-maso-capital-hk-man-group-hires-peach-md-a |work=www.hedgeweek.com |date=21 June 2012 |language=en}}</ref> In July 2012, Jain and Khurana hired Allan Finnerty, a former Mount Kellett executive, as chief operating officer of the fund. Originally hoping to raise $250 million, they managed to raise only $20 million by the time they launched in 2013.<ref name=":0" /><ref>{{cite news |title=Former Och-Ziff Managers Said to Plan Own Asia Hedge Fund |url=https://www.bloomberg.com/news/articles/2012-06-15/former-och-ziff-managers-said-to-plan-own-asia-hedge-fund-1- |work=[[Bloomberg News]]}}</ref><ref>{{cite news |title=Ex-Och-Ziff duo tap Mt Kellett exec for Asia hedge fund |url=https://www.reuters.com/article/maso-hire/ex-och-ziff-duo-tap-mt-kellett-exec-for-asia-hedge-fund-idUSL3E8IA0GK20120710 |work=Reuters |date=10 July 2012 |language=en}}</ref><ref name=":1">{{cite web |title=Hong Kong's Maso Capital scales to $300m in assets |url=http://connection.ebscohost.com/c/articles/101876184/hong-kongs-maso-capital-scales-to-300m-assets |publisher=[[EBSCO Information Services]]}}</ref>
By 2015 the fund had scaled to $300 million.<ref name=":1" /> As of May 2020, the fund had sold off $151.47 million in equities with a remaining $247.87 million in assets under management.<ref>{{cite web |title=Maso Capital Partners 13F filings and top holdings and stakes - stockzoa |url=https://stockzoa.com/fund/maso-capital-partners-ltd/ |website=stockzoa.com}}</ref>

=== Legal History ===
Maso Capital has pioneered a complex and time-consuming legal strategy involving a little-known Cayman Island law, Section 238 of Companies Law, to target bad acting Chinese companies that buyout US shareholders, delist on American markets, and consequently relist on Chinese markets for substantially higher valuations than their American buyout.<ref name=":2">{{cite news |last1=Fletcher |first1=Laurence |title=Hedge Fund Battle With China’s Shanda Heads to U.K. Court |url=https://blogs.wsj.com/moneybeat/2018/06/18/hedge-fund-battle-with-chinas-shanda-heads-to-u-k-court/ |work=[[The Wall Street Journal]] |date=18 June 2018}}</ref><ref name=":3">{{cite news |title=Hedge Funds Are Demanding China Buyers Pay More in M&A Deals |url=https://www.bloombergquint.com/china/hedge-funds-are-demanding-chinese-buyers-pay-more-in-m-a-deals |work=[[BloombergQuint]] |language=en}}</ref><ref>{{cite web |title=Appraising Section 238 fair value proceedings: an overview |url=https://www.internationallawoffice.com/Newsletters/Corporate-Commercial/Cayman-Islands/Ogier/Appraising-Section-238-fair-value-proceedings-an-overview |website=International Law Office |date=6 April 2020}}</ref>

Since its inception, Maso Capital has been involved in a number of similar situations and typically invests as a minority shareholder, a quarter to half of its fund in the undervalued US-listed shares it is targeting.<ref name=":2" /> Leveraging Maso Capital’s strategy and resulting legal precedent, other major investment firms such as [[Prudential Financial|Prudential]], [[T. Rowe Price]] and [[D. E. Shaw & Co.|D.E. Shaw]] have employed the same strategy in filing similar suits.<ref name=":3" />

==See also==
*[[List of asset management firms]]
*[[List of hedge funds]]


== References ==
== References ==
{{reflist}}
{{reflist}}

{{Hedge funds}}

[[Category:Financial services companies established in 2012]]
[[Category:2012 establishments in Hong Kong]]
[[Category:Hedge funds]]

Revision as of 01:40, 26 September 2020

Maso Capital Partners Limited
Company typePrivate
IndustryHedge fund
Founded2012; 12 years ago (2012)[1]
Founders
  • Manoj Jain
  • Sohit Khurana
[2]
Headquarters
Hong Kong
ProductsHedge fund
AUMUS$ 300 million
Websitewww.masocapital.com

Maso Capital Partners Limited is a Hong Kong-based hedge fund that was founded and is run by Manoj Jain and Sohit Khurana. The fund is registered in the Cayman Islands under Cayman Islands company law and headquartered in Central, Hong Kong.[3][4][5][6]

History

Maso Capital was founded in 2012 by two longtime managing directors at Och-Ziff's Asia fund, Manoj Jain and Sohit Khurana, when they decided to start their own Asia hedge fund focused on event-driven investing, merger-arbitrage and convertible arbitrage.[7] The name Maso Capital was chosen as a play on the founding members first names.[8] In July 2012, Jain and Khurana hired Allan Finnerty, a former Mount Kellett executive, as chief operating officer of the fund. Originally hoping to raise $250 million, they managed to raise only $20 million by the time they launched in 2013.[8][9][10][11] By 2015 the fund had scaled to $300 million.[11] As of May 2020, the fund had sold off $151.47 million in equities with a remaining $247.87 million in assets under management.[12]

Maso Capital has pioneered a complex and time-consuming legal strategy involving a little-known Cayman Island law, Section 238 of Companies Law, to target bad acting Chinese companies that buyout US shareholders, delist on American markets, and consequently relist on Chinese markets for substantially higher valuations than their American buyout.[13][14][15]

Since its inception, Maso Capital has been involved in a number of similar situations and typically invests as a minority shareholder, a quarter to half of its fund in the undervalued US-listed shares it is targeting.[13] Leveraging Maso Capital’s strategy and resulting legal precedent, other major investment firms such as Prudential, T. Rowe Price and D.E. Shaw have employed the same strategy in filing similar suits.[14]

See also

References

  1. ^ "Maso Capital Partners Ltd - address, contacts, directors". www.hkong.net.
  2. ^ "Exclusive: Ex-Tudor manager sets up own Singapore shop - sources". Reuters. 10 January 2013.
  3. ^ "Hedge Funds Demand Chinese Buyers Pay More in M&A Deals". Bloomberg News.
  4. ^ "Cayman lawsuits challenge valuations of delisted Chinese companies". Financial Times.
  5. ^ "Maso Capital (Hong Kong)" (PDF). Macquarie Group.
  6. ^ "List Mutual Funds" (PDF). cima.ky.
  7. ^ "Hedge funds are demanding China buyers pay more in M&A deals". The Business Times. 22 November 2017.
  8. ^ a b "Two former Och-Ziff employees establish Maso Capital in HK". www.hedgeweek.com. 21 June 2012.
  9. ^ "Former Och-Ziff Managers Said to Plan Own Asia Hedge Fund". Bloomberg News.
  10. ^ "Ex-Och-Ziff duo tap Mt Kellett exec for Asia hedge fund". Reuters. 10 July 2012.
  11. ^ a b "Hong Kong's Maso Capital scales to $300m in assets". EBSCO Information Services.
  12. ^ "Maso Capital Partners 13F filings and top holdings and stakes - stockzoa". stockzoa.com.
  13. ^ a b Fletcher, Laurence (18 June 2018). "Hedge Fund Battle With China's Shanda Heads to U.K. Court". The Wall Street Journal.
  14. ^ a b "Hedge Funds Are Demanding China Buyers Pay More in M&A Deals". BloombergQuint.
  15. ^ "Appraising Section 238 fair value proceedings: an overview". International Law Office. 6 April 2020.
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