Prime Capital Management

Chief Investment Officer Tony H. You runs the investment process and has done so since founding the firm in 1995. He makes the final call on all portfolio positions within the concentrated long/short equity mandate. The firm does not operate a multi-manager platform or delegate authority to sector heads.

The firm runs a concentrated long/short equity strategy focused on Greater China and broader Asian markets. It typically holds 20 to 40 positions and can vary net exposure significantly based on market conditions. Stock selection is driven by fundamental, on-the-ground research — including management meetings, channel checks, and supply-chain analysis — rather than top-down macro calls.

Prime Capital relies on proprietary research and direct company engagement across Asia. The investment team conducts its own channel checks and management interviews rather than depending on sell-side research. This approach was unusual when the firm launched in 1995 and remains a differentiating factor, particularly for accessing Chinese enterprises where local relationships matter.

No. Prime Capital does not publicly report its assets under management, fund-level returns, or total team size. The firm has maintained a deliberately low public profile throughout its three-decade history, disclosing information only to existing and prospective limited partners through private channels.

The firm invests primarily across Greater China — including mainland China, Hong Kong, and Taiwan — as well as Korea, Japan, and Southeast Asian markets. China-related positions have historically represented a significant portion of the portfolio given the team's Hong Kong base and its early focus on Chinese equities.

Prime Capital is structured as a hedge fund management company, not a family office. It manages external institutional capital alongside any internal capital from the founder. The firm operates as a single-manager platform — all investment decisions flow through CIO Tony H. You, distinguishing it from the multi-manager hedge fund platforms common in Asia today.

The firm's longevity traces to a conservative approach to leverage and a flexible net-exposure mandate that allows it to reduce risk materially during downturns. While many Asia-focused hedge funds that launched in the 1990s closed, converted to family offices, or sold to larger platforms, Prime Capital maintained its independent structure and single-manager model through the 1997 Asian Financial Crisis, the 2008 global financial crisis, and multiple China drawdowns.