Friday, 27 February 2015
Last updated 3 hours ago
Jan 17 2012 | 12:05pm ET
Millennium Management is poised to be the first foreign player in the hedge fund industry's newest territory.
The New York-based firm is in talks with South Korean regulators about opening a local affiliate, the Yonhap News Agency reports. While no official application has been made, one is expected soon and approval could come as early as this month.
Hedge funds have technically been legal in the country for almost three years, but did not become practically possible until last month. South Korea's Financial Services Commission—the agency that Millennium is working with—has approved nine local firms to begin offering hedge funds.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…