DiMaio Ahmad Capital is the latest hedge fund to set its sights on Asia: The New York-based firm has opened an office in Singapore.
The $3 billion credit shop has registered an affiliate, DA Capital Asia, with Singapore's Accounting and Corporate Regulatory Authority, Bloomberg News reports. The move follows the firm's launch of an Asia-focused managed account for an institutional investor.
In Singapore, DiMaio Ahmad joins newcomers including Fortress Investment Group and Algebris Investments.
Neither of the fund's namesakes are still with the hedge fund: Nasser Ahmad is now with Seatown Holdings, a unit of Singapore sovereign wealth fund Temasek Holdings, while DiMaio had been Morgan Stanley's head of interest rate, credit and currency trading until earlier this year.
Morgan Stanley owns a minority stake in DiMaio Ahmad.