Saturday, 22 October 2016
Last updated 6 hours ago
May 5 2010 | 12:13pm ET
Almost a year after shuttering its Hong Kong operation, Fortress Investment Group is returning to the region, joining the huge number of alternative investment firms setting up shop in Asia.
Fortress closed its Hong Kong office in June, but has now resurfaced with new digs in Singapore, Reuters reports. The firm has registered with the city-state’s Accounting and Corporate Regulatory Authority and has been in contact with lawyers and headhunters both in Singapore and Hong Kong.
According to Reuters, the US$40 billion firm plans to take its Asia growth slowly, with the Singapore base used exclusively for investments at first.
The Singapore activity is not the first sign that Fortress, which never totally abandoned the region, keeping several traders in Tokyo, wanted to return to Asia. Last year, it tried to lure Galleon Group’s Singapore stock team, which eventually chose to join CastleBay Capital.