Parantoux awaits licence, readies event-driven fund

Hong Kong start-up Parantoux Capital is awaiting a licence and looking to expand its team as it prepares to launch a long/short event-driven strategy.  This reflects a trend of China-focused hedge fund managers moving to set up up shop in the city. Such firms usually already have mainland operations, but want to run offshore hedge funds and attract foreign capital through Hong Kong. Some are choosing to join incubation platforms in the city to build scale and track record. Paran…