Sunday, 28 August 2016
Last updated 1 day ago
Nov 8 2010 | 11:56am ET
After months of planning, Soros Fund Management opened its office in Hong Kong today.
The US$27 billion firm announced plans to set up an office in the city in January. The firm was considering transferring two fund managers, James Chang and Dai Jixin, to the new base. The Hong Kong office is New York-based Soros' first in Asia.
Soros joins several large Western hedge funds in opening offices in the region. GLG Capital, which was recently acquired by the Man Group, opened offices in Beijing and Hong Kond earlier this year. Prana Capital founder Peregrine Cust moved himself—and the firm's investment team—from London to Singapore in April, while D.E. Shaw Group opened offices in Shanghai and Tokyo.
Moore Capital Management, Maverick Capital and Viking Global Investors also opened Asia offices, while Fortress Investment Group will launch a Singapore office, headed by co-chief investment officer Adam Levinson, and a San Francisco office, headed by co-chairman Peter Briger and designed to focus on the firm's Japanese activities, next year.