Segantii veteran’s Viridian gains 2.65% in July as assets reach $680m
Viridian Asset Management, the Hong Kong hedge fund firm founded by former Segantii Capital Management portfolio manager Pascal Guttieres, grew assets to $680m after attracting a new investor and generating strong returns during July’s market turmoil, according to a report by Bloomberg.
Viridian Asset Management, a Hong Kong hedge fund established by ex-Segantii Capital Management portfolio manager Pascal Guttieres, saw its assets grow to $680 million in July. The fund achieved a 2.65% return during the month, with the majority of gains coming from equity capital markets trades, Bloomberg reported. The strategy has increased 3.8% year-to-date.
Viridian's convertible bond strategy also hit its best monthly performance since launch, earning from both new issues and secondary-market trades. The fund's success stands out amid a tough year for Asian hedge funds, as regional equity long-short strategies faced their worst month ever in July, losing around 15% on average, according to Goldman Sachs estimates.
Despite the volatility, Viridian benefited from a record month in equity capital markets, with IPOs, share placements, and block trades raising about $83 billion. The firm's notable trades included an arbitrage position on SK Hynix's US-listed ADRs, which yielded a 25% premium to the company's Korean shares. Guttieres, who previously worked at UBS, launched Viridian in 2024 with $100 million from Axa IM Prime, focusing on liquidity around equity capital markets transactions.
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