Key facts
- Dymon Asia Capital aims to raise $700 million in fresh capital.
- The fund focuses on Asian currencies, futures, and interest rates.
- Assets have grown to approximately $500 million since reopening in January.
- The fund seeks to achieve annual returns of 15%.
Singapore-based Dymon Asia Capital, founded by ex-Citadel manager Danny Yong, is seeking to raise $700 million in fresh capital for its hedge fund. The fund, which focuses on Asian currencies, futures, and interest rates, has grown to approximately $500 million since reopening in January. Yong aims for annual returns of 15%, with a clawback agreement in place for the 20% performance fee if the fund loses money over the next year. The firm opened a Hong Kong office to capitalize on trading opportunities in the developing offshore RMB market.