South African FoHF manager sets up in Hong Kong

Skybound Capital has become the first South African fund-of-hedge-fund (FoHF) manager to set up in Hong Kong as it seeks to double its AUM to $500 million within three years. Chief investment officer Michael Tostée moved to the city late last month to head the business, while Theodore Shou, who joined from a Hong Kong family office on October 1 and previously worked on manager selection at HSBC Private Bank, is responsible for portfolio management. Skybound, which has $275 milli…