Bloomberg – Joseph Tsai, vice chairman of Alibaba Group Holding Ltd. (BABA), has pledged the bulk of a $100 million commitment to a new hedge fund run by former SAC Capital Advisors LP manager Andrew Bazarian, according to a person with knowledge of the investment.
The backing by Tsai, a co-founder of China’s largest e-commerce company, is likely to boost assets in Pinyin Capital Management to more than $125 million by year-end, said the person, who asked not to be identified as the information is private. Alexander West, who runs Tsai’s family office Blue Pool Capital Ltd. in Hong Kong, declined to comment.
