03 November 2022
Carey Olsen advises Astra Digital on launch of new multi-strategy fund
Carey Olsen has been engaged to advise Astra Digital Group Holdings Limited (Astra Digital) on the launch of its new Astra Digital flagship multi-strategy fund, which focuses exclusively on digital assets. The fund will be managed by ARTE Capital Management Limited, a SFC licensed manager.
Astra Digital aims to be at the forefront of digital innovation and well placed to benefit from the volatility of the digital assets market using a diversified, risk-adjusted approach.
Asset manager ARTE Capital will be providing seed capital and its SFC-regulated platform to the fund as well as operational support. In turn, Astra Digital will be providing digital asset expertise, research and institutional business support. The fund provides an all-weather portfolio by investing in leading trading strategies, including trend-following, multi-factor, arbitrage / market-neutral as well as directional strategies.
The Carey Olsen team advising on the Cayman Islands law aspects of the deal will be led by Hong Kong partner Michael Padarin with support from senior legal manager Eason Huang and legal manager Dilys Hung. They will work alongside onshore counsel PwC Legal and fund administrator Trident Fund Services.
Michael said: "We are pleased to support Astra Digital and ARTE Group on the launch of Astra Digital's flagship fund, which demonstrates their collective vision for the digital assets sector."
Suen Son Poon, co-founder of Astra Digital said: "We are pleased to be working with Mike and Carey Olsen again. We have absolute confidence in Mike to help us navigate the Cayman regulatory environment and lead us to a smooth and successful fund launch."