News

Hedge fund DE Shaw expands Asia Pacific presence

Hedge fundOne of the world’s largest hedge funds, US-based DE Shaw & Co, is set to become the latest hedge fund to open an office in Singapore. The firm, which has more than $50 billion in investment capital, has applied for a fund management licence from the Singapore central bank. While DE Shaw already has offices in Shanghai and Hong Kong, it is just the latest large hedge fund to move its headquarters from Hong Kong to Singapore. Over the last two months hedge funds Marshall Wace and Citadel have taken similar measures, while a number of asset managers have followed the same course, the most recent being Swiss firm Vontobel. "Opening an office in Singapore will further enable us to tap into the region's talent, capital, and investment opportunities," stated DE Shaw Asia-Pacific general manager Kevin Patric. "This is a logical next step in the growth of our geographic footprint." © 2020 funds global Asia

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