Nock shock: Doric changes hands

Veteran of the Hong Kong hedge fund world Michael Nock is set to ride off into the sunset and restructuring plans for his hedge fund Doric Capital Corporation have been announced.

The fund management company has been bought by the management team comprising of Howard Wong, Rajesh Ranganathan and Jeff Liu. They have an equal partnership together with a strategic investor, the Hamon Investment Group, a Hong Kong-based asset management company, which has placed new capital into the company,

Nock will retain a stake in Doric Capital, which he founded in 1999. He will remain on the board as a non-executive director and will act as an advisor.

The day-to-day running of the company and the investments will continue to be done by the existing Doric investment team led by Wong, who will have overall responsibility for the investments. 

Doric operates two equity long/short total return funds -- the Doric Focus Fund and the Doric Asia Pacific Small Cap Fund. The funds are managed by a team of nine investment professionals and six operations staff based in Hong Kong and India.

Unlike some hedge fund managers whose only obsession in life is the markets, renaissance man Nock has a wide array of talents, from the aesthete to the gourmand. His CV includes cartoon production (The Quangle Wangle's Hat) and he is the owner of posh restaurants such as 'M on the Bund' in Shanghai.