D.E. Shaw raises first onshore China fund

The D.E. Shaw Group has wound down its fundraising operations for its first onshore China investment fund, the D.E. Shaw Razor China Fund, which is thought to have raised 1 billion RMB. Opening its initial office in Hong Kong in 2007, the New York-headquartered firm has had a presence in Mainland China with its Shanghai office for a decade now. “We’re grateful for the opportunity to manage capital on behalf of a broad range of onshore Chinese investors, including institutions, asset managers and high-net-worth individuals and we’re pleased the fund is off to a strong start,” said Julius Gaudio, executive committee member of the $50 billion investment firm. The D.E. Shaw Razor China Fund is a systematic futures strategy that leans on the firm’s trading infrastructure and portfolio optimization process. According to a press release issued by the firm, the fund’s trading activities are supervised and managed by personnel at the firm’s Shanghai office. Launching in September after the Asset Management Association of China approved its PFM license as a wholly foreign-owned enterprise in April 2019, the fund has raised RMB-denominated funds from mainland Chinese investors to invest directly in markets in China. It is unknown which investors have backed the initiative or how much the fund has raised. The sovereign wealth fund giant China Investment Corp. this week was said to be on the hunt for more “resilient assets” amid the COVID-19 pandemic with a plan to boost alternative assets by 2022 still underway. Historically, the $941 billion fund has invested in private equity, private credit and real estate projects, according to its website.

D.E. Shaw raises first onshore China fund

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