Tuesday, 24 May 2016
Last updated 8 hours ago
Oct 4 2010 | 2:38am ET
Fortress Investment Group is returning to Asia with a new office in Singapore.
Adam Levinson, the New York-based alternative investment giant's global macro co-chief investment officer, will move to the city-state next year to run the new office. Fortress plans to employ about 10 people in Singapore.
"The Asia region has long been a major focus of our liquid markets business, and we believe the region will continue to present attractive opportunities for us to leverage our global macro capabilities on our investors' behalf," Levinson said. "Having a regionally-focused, globally-integrated trading platform in Singapore, able to extract primary information from the market in real time, will significantly enhance our ability to capitalize on those opportunities."
Fortress, which also has offices in Frankfurt, Germany, London, Rome, Sydney and Tokyo, closed its Hong Kong office two years ago as it, and many other Western hedge funds, severely curtailed their activities in the Asia-Pacific region. Now, however, Asia is seen as the future of the hedge fund industry, and Fortress plans to launch an Asia-focused macro fund as soon as next year.
The firm is also mulling a fundraising effort among Asian investors and other increases in Asian investments.