Prana Plans Singapore Office

Jan 11 2010 | 12:34pm ET

London-based hedge fund Prana Capital is poised to move its focus—and founder—to Asia.

The global macro shop, which already invests some of its US$115 million in assets in Asian equities, plans to open a Singapore office, Reuters reports. It is expected that Peregrine Cust, who founded the firm five years ago, will relocate to the new office.

A spokesman for the hedge fund told the news agency that Cust’s move was “not imminent.”

Prana Capital’s eponymous hedge fund returned 72% last year.

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