VMS Group Builds Hedge Fund Team as Hong Kong Family Offices Shift to Liquidity

VMS Group, a Hong Kong-based multi-family office managing approximately USD4bn, is expanding into hedge funds to cater to client demand for more liquid investments. Traditionally focused on private equity, the firm has hired equities veteran Raymond Jook as managing director, along with Kyle Wong and Carmen Tang, to establish a three-person team targeting public markets. The shift reflects a growing trend among family offices reallocating capital from illiquid private equity to hedge funds amid macro uncertainty. VMS, reportedly linked to the billionaire Cheng family of New World Development, intends to build a performance track record before launching a long/short equity fund with an initial USD100m target. The firm also plans to explore macro, credit, event-driven, and quantitative strategies.