HONG KONG - Arrowpoint Investment Partners, one of Asia's largest hedge fund launches this year, said on Friday it has secured investment from the Canada Pension Plan Investment Board (CPPIB) and a unit of Singapore’s Temasek Holdings.

These sovereign wealth funds followed Blackstone, which had already seeded the new Singapore-based fund.

"Blackstone, Temasek, and CPPIB have confirmed their support as our seed backers," said Joo Lee, co-founder and chief technology officer at Arrowpoint, in a Linkedin Post.

Bloomberg reported the fund-raising earlier, and said Seviora Capital, a wholly owned unit of Singapore's state investor Temasek, was one of the seeders.

Arrowpoint was founded by Jonathan Xiong, former Asia co-CEO of Millennium Management, a multi-manager hedge fund giant. He left the firm last September, according to regulatory records.

The fund is expected to start trading in July, with more than 15 portfolio managers. It has also hired staff in Hong Kong, according to sources familiar with the matter.

Reuters reported in February the fund had raised about $1 billion.

Arrowpoint didn't respond to a request for comment.

Multi-manager, multi-strategy funds have been increasingly favoured by investors in recent years due to their relatively low volatility and their risk diversification.

The launch of Arrowpoint will intensify the talent competition in the region, challenging existing big hedge funds such as Polymer Capital Management and Dymon Asia Capital, market participants say.

(Reporting by Summer Zhen; Editing by Susan Fenton)