Key Takeaways
- • Jun Bei Liu launches Ten Cap, a new long-short equity hedge fund, with A$1.5 billion ($940 million) in initial capital targeting Australia's S&P/ASX 200 Index companies.
- • Ten Cap is co-led by Liu and Jason Todd, who serves as Chief Executive Officer, with an experienced investment team assembled for the strategy.
- • Liu departed Tribeca Investment Partners after 20 years, where she had quadrupled assets under management for the Alpha Plus Fund before spinning out to establish Ten Cap.
- • The fund is 100% founder and staff-owned, with Liu positioned as Co-founder and Lead Portfolio Manager driving the investment strategy and market outlook.
- • Ten Cap has set an ambitious growth target to double assets under management to A$3 billion following the fund's establishment.
Summary
Hedge fund manager Jun Bei Liu has launched Ten Cap, a long-short equity strategy focused on Australian equities, with approximately A$1.5 billion ($940 million) in seed capital. The fund targets companies listed on the S&P/ASX 200 Index and represents Liu's next chapter after two decades at Tribeca Investment Partners, where she achieved significant asset growth managing the Alpha Plus Fund.
Ten Cap operates as a partnership between Liu and Jason Todd, a wealth management executive with experience at Macquarie and Commonwealth Bank who serves as Chief Executive Officer. According to Bloomberg, Liu has assembled an experienced investment team to execute the long-short strategy. The fund structure is notable for being 100% owned by the founders and staff, aligning incentives with client returns and experience.
Liu's departure from Tribeca marked a significant shift in Australia's hedge fund landscape. During her tenure at Tribeca, she had quadrupled assets under management for Alpha Plus, establishing herself as a recognized stockpicker and portfolio manager. Her transition to launching Ten Cap reflects confidence in her investment approach and ability to attract institutional capital at launch.
The fund has established an ambitious growth trajectory, targeting A$3 billion in assets under management as it scales operations. Liu has positioned herself as the Lead Portfolio Manager, maintaining direct involvement in investment decisions while Todd manages operational and client-facing functions. The venture capitalizes on Liu's track record and reputation within Australian equity markets while building a fully independent, owner-operated platform.
Ten Cap operates as a partnership between Liu and Jason Todd, a wealth management executive with experience at Macquarie and Commonwealth Bank who serves as Chief Executive Officer. According to Bloomberg, Liu has assembled an experienced investment team to execute the long-short strategy. The fund structure is notable for being 100% owned by the founders and staff, aligning incentives with client returns and experience.
Liu's departure from Tribeca marked a significant shift in Australia's hedge fund landscape. During her tenure at Tribeca, she had quadrupled assets under management for Alpha Plus, establishing herself as a recognized stockpicker and portfolio manager. Her transition to launching Ten Cap reflects confidence in her investment approach and ability to attract institutional capital at launch.
The fund has established an ambitious growth trajectory, targeting A$3 billion in assets under management as it scales operations. Liu has positioned herself as the Lead Portfolio Manager, maintaining direct involvement in investment decisions while Todd manages operational and client-facing functions. The venture capitalizes on Liu's track record and reputation within Australian equity markets while building a fully independent, owner-operated platform.
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