U.S.-based hedge fund Tudor Investment Corp. plans to inject $100 million into Helios Capital Management Pte. Ltd. and take a 15% equity stake in the India-focused fund company, according to people familiar with the arrangement.
Tudor's investment is a sign of continued bullishness on prospects for Indian stocks, which are lagging this year after clocking 40%-plus growth in both 2005 and 2006. Helios is based in Singapore.
Tudor, of Greenwich, Conn., is investing $50 million in Helios's equity-focused hedge fund, which holds shares in stocks and single-stock futures, according to the people. Single-stock futures are an unusual type of security available in India but not offered in most Asian markets.
Tudor is also expected to invest $50 million in a new Helios fund targeting stocks, real estate and debt securities. It's unclear whether Tudor's 15% equity stake in Helios will involve a separate investment.
Founded by Paul Tudor Jones, Tudor currently has about $16.8 billion under management, according to the company's web site. Tudor executives couldn't immediately be reached for comment.
Source : WSJ