Algebris Picks Singapore For Asia Office

Apr 26 2010 | 12:53pm ET

Another hedge fund is setting up shop in Asia to position itself for big inflows from the region.

London-based Algebris Investments has registered with the Accounting and Corporate Regulatory Authority of Singapore and will open an office in the city-state. The new Asian business was incorporated last month, Bloomberg News reports, after several months of scouting potential locations in the region.

The US$1.5 billion had also looked at Hong Kong as a possible Asian home.

Two years after western hedge fund managers fled Asia amidst the financial crisis, they are returning in force. Over the last several months, GLG Partners, Maverick Capital, Moore Capital Management, Stark Investments and Viking Global Investors have opened, or have announced plans to open, offices in the region.

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