Schonfeld-Backed Quant Raises $1.7 Billion for New Hedge Fund

Quantitative firm Y-Intercept (Hong Kong) Ltd. has gathered more than $1.7 billion in one of the most successful Asia hedge fund capital raisings in recent years, said people with knowledge of the matter.

More than a handful of investors from Asia, the Middle East and North America have contributed money toward the new fund, including sovereign wealth and pension funds as well as asset managers, the people said, asking not to be identified discussing private information. Among them are Blackstone Inc., Canada Pension Plan Investment Board and Morgan Stanley’s fund of funds business, they added.