Australia’s Ascalon Buys Stake in Singapore Hedge Fund RV

Ascalon Capital Managers Ltd., a company owned by Westpac Banking Corp. that invests in hedge-fund managers, bought a 30 percent stake in Singapore-based RV Capital Management Pvt as it expands its Asian investments.

The acquisition includes an investment in RV Capital’s flagship Asia Opportunity Fund, which bets on rising and falling securities in the region’s rates, credit and foreign exchange markets, Ascalon said in an e-mailed statement.