Former Goldman Sachs Group Inc
The Hong Kong-based multi-strategy hedge fund, which could invest globally but mainly focuses on companies related to Asia, had a blockbuster start with about $1 billion on April 1 last year and now manages $1.9 billion.
By comparison, the Eurekahedge Asia Multi-Strategy index was down 4.9 percent between April and December last year, while regional hedge funds lost about 9 percent during the period.
Started by Sze, former head of Goldman's Principal Strategies group, Azentus Capital was one of the biggest hedge funds to launch since the onset of the credit crisis and one of the most high-profile in Asia.
The hedge fund faced a tough third quarter when Asian shares as measured by the MSCI AC Asia <.MIAS00000PUS> index lost about 15 percent in a tough year for hedge funds rattled by the European debt crisis and fear of an economic slowdown.
Azentus Capital Chief Operating Officer Roger Denby-Jones declined to comment. The sources were not authorized to speak to media.
(Editing by Chris Lewis)