Seth Fischer’s Oasis Management has taken over Petrel Capital, the Hong Kong-based hedge fund established by former employee Rawen Huang.

Huang left Oasis about three years ago to establish Petrel, and will be rejoining Oasis as its new head for Greater China Strategies. He will continue to run the Petrel Capital Greater China Fund which is now renamed the Oasis Petrel Greater China Fund.

Huang said his team of analysts at Petrel will be joining him in Oasis’ Greater China team.

The Petrel fund lost 2.2% in June to track a return of 9.4% in the first six month of the year.

In a letter to investors, seen by AsiaHedge, Huang said: “The last three years have been an incredible journey for Petrel Capital, full of ups and downs.”

He said he was excited to be rejoining Oasis where he worked from 2012 to 2014.

Prior to Oasis, Huang worked as an investment analyst at Kilometre Capital, was a former reporter and translator at China Central Television and a former banking analyst at Morgan Stanley.

Huang said he was happy to be working with Fischer again, the founder and CIO at Oasis.

“Seth has been the biggest supporter of me and Petrel Capital since our inception, and I look forward to leading Oasis’ Greater China team and contributing to Oasis’ continued success,” he said.

The Petrel team has been operating from the OP Investment Management (Opim) platform since it was launched in 2015.

“Having worked with Rawen over the last three years, I can attest to Petrel’s track record – the cumulative result of gritty determination, smart investing, and mature business management,” said Opim CEO Alvin Fan.

Fischer founded Oasis in 2002. The firm managed an estimated $1.2bn at the end of last year, according to HFM data.

Petrel Capital founder Rawen Huang rejoins Oasis on AsiaHedge.