Asia Hedge Fund Founders Shut Shop for Big Pay at Global Giants

(Bloomberg) -- Hedge fund founders in Asia are jumping ship to global giants from Citadel to Millennium Management as the struggles of capital raising and pressure to make higher returns curb the attractiveness for some managers’ solo endeavors.

Torq Capital Management Chief Investment Officer Avinash Abraham is closing his firm to rejoin Citadel as a portfolio manager, while macro manager Ayan Sen returned to Millennium this year, marking the end of his more than five-year stint running his own Navik Capital (Singapore), Bloomberg has
reported.

Smaller hedge fund firms are facing a difficult capital-raising environment and an increasingly costly war for talent. While there have always been isolated cases and it’s too early to know how many more will follow, high interest rates have driven up expected returns and are forecast to tilt more Asia-based hedge fund entrepreneurs in favor of embracing the bigger global so called pod firms, or platforms.

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rumors are out that China has been seriously overstating their financial stability??? Is this a indicator something more is up in China?