Atsushi Sakano, a former Partner at Hong Kong-based Aspex Management, is launching Tenucia Partners, a new long-short hedge fund focused on Asian equities, according to a report by Reuters citing unnamed sources familiar with the plans.

The fund is expected to begin trading in the first quarter of 2026 and will target opportunities across Japan, China, and other Asian markets.

Sakano, who left Aspex in March and was a founding member of the $10bn firm, has committed $100m to the new vehicle and is seeking additional large external investors. The fund has also appointed Derek Cheng, formerly of Kontiki Capital, as chief operating officer. Tenucia Partners will be based in Hong Kong.

Investor interest in Asian equities has been rising amid expectations of a weaker US dollar and potential rate cuts in the United States, alongside catalysts such as China’s tech innovation and Japan’s corporate reform and reflation narratives. Market volatility has produced divergent performance across Asia-focused hedge funds in 2025, with an index tracking the region returning 7.5% over the first eight months of the year, while Japan- and China-focused funds have gained around 16%, according to Hedge Fund Research.