New York hedge fund D E Shaw hopes to unlock more of India’s trading potential. D E Shaw is the world’s second-largest hedge fund, the group is a specialized investment and technology development firm. Its activities range from computer-based quantitative investment management to the development and financing of technology-oriented business ventures. With a new manager, Anil Chawla, to join the fund in June as the country head and $17.1 billion in assets, DE shaw will set up its operations in June.
Anil Chawla has been chief executive officer of commercial finance in India & South East Asia since 1999. Chawla had joined GE Capital as an assistant vice-president in April 1996. He heads the corporate growth team which GE set up last year to triple revenues in India in 3 years to $3 billion by 2008. It will invest in private equity as well as distressed assets in India, providing a lot of liquidity to the market.
Analysts expect to see a 40% growth in investments in Indian markets as investors expect higher rates of growth from markets outside Europe and the US. Investors in these regions consist of a greater percentage of institutional owners, such as government entities and insurers. Hedge fund investors expect the amount they put in to such funds to increase steadily, according to a survey by Goldman Sachs, the investment bank. The survey found several developments that indicated the industry was growing more acceptable to institutions.
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