Joseph Tsai’s money manager has quietly built one of Hong Kong’s most connected investment firms. Now it is opening its debut private equity fund to outside money, with about $1.4 billion in commitments.
The vehicle, named Riverside, blew past its initial $750 million target within months and crossed the $1 billion milestone in March. Commitments reached roughly $1.4 billion as of August 11, according to the Maples Group, which served as Cayman Islands counsel for the fund.
Blue Pool is led by Oliver Weisberg, a former Citadel partner, and manages assets for Tsai, his family office, senior management and a circle of wealthy families. Its portfolio spans technology, media, sports and consumer brands, with past bets including SpaceX, Epic Games, Golden Goose and ByteDance.
Riverside signals a shift toward raising capital from outside investors as the firm chases larger deals. Blue Pool began courting external money more than two years ago through its Harborside series of hedge fund and private credit vehicles. Bloomberg reported last week that the second Harborside fund held a first close at $300 million, targeting $500 million by year-end.
