York Capital May Boost Asia Office

Mar 26 2010 | 1:29pm ET

Hedge fund York Capital Management is doubling-down on Asia.

The $13 billion New York-based firm could double the size of its staff in its Hong Kong office over the next two years, Bloomberg News reports. Christophe Aurand, chief investment officer of York’s international divisions, said the seven-strong Asian office could grow to match the size of its London operations, which employs about 15.

“There’s no doubt that five, 10 years from now, the investible market in Asia will be bigger than the investible market in Europe,” Aurand told Bloomberg. “You don’t see the mega-deals that you see in the U.S., but you do see a lot of activity.”

And there are fewer players taking advantage of that activity, as Western hedge funds and bank’s proprietary trading desks have retrenched.

“More so in Asia than anywhere else, there’s much less capital looking at deals today,” Aurand said. “If you look at who the large players in arbitrage were, two-thirds of them have all but disappeared.”

York’s Asian Opportunities Fund manages $210 million, with about a quarter of the fund allocated to Japan.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...