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Woori Temasek to launch fund-of-hedge-funds
February 8, 2010
South Korea's Woori Investment & Securities Co Ltd is set to launch a $30 million fund-of-hedge-funds with Temasek's Fullerton Fund Management, as part of a restructuring of its hedge funds business.
The plan comes after Woori shut down a $60 million offshore hedge fund under its Singapore-based Woori Absolute Partners. A part of that money will be deployed to the new fund-of-hedge-funds.
A Woori spokesman confirmed the plan on Friday and said the company will sign a final contract with Temasek [TEM.UL] to set up the fund jointly.
Original Posting At: Reuters
The plan comes after Woori shut down a $60 million offshore hedge fund under its Singapore-based Woori Absolute Partners. A part of that money will be deployed to the new fund-of-hedge-funds.
A Woori spokesman confirmed the plan on Friday and said the company will sign a final contract with Temasek [TEM.UL] to set up the fund jointly.
Original Posting At: Reuters
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