This former Point72 portfolio manager launches his own crypto hedge fund

Point72 Asset Management is undoubtedly one of the world’s most successful hedge funds, founded by Steven Cohen. With assets under management at around $12.4 billion (2018), working at the prestigious hedge fund is a rare privilege.

Now, one of its former portfolio managers, Travis Kling, is running his own cryptocurrency hedge fund called Ikigai Asset Management.

According to the profile of the company’s Linkedin page:

“We seek to generate superior risk-adjusted returns through the execution of venture stage pre-ICO investments and both systematic and fundamental liquid hedge fund strategies.”

According to Cryptovest, the idea of creating his own hedge fund was born last year, when Bitcoin and the entire crypto industry was booming.

The opening of the hedge fund will be in early October, 2018. The capital injection will come from various partners, and there will be additional $15 million injected in November, 2018. According to Bloomberg, foreign investors who are interested in Ikigai will be able to invest through Cayman Islands-based channel.

Ikigai is based in Los Angeles, California with a current headcount of 13 employees. The fund will be managed in an active way, with most of the funds coming in cash initially. Management fees will stand at 2% plus custody fees and a minimum investment of $250,000 from investors.

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