Another major hedge fund is expanding in Asia. Capula Investment Management will open an office in Hong Kong.
The new office, Capula's fourth, will be fully operational at some point this year, Reuters reports. It won't be the US$13 billion firm's first office in the region—it's already got a base in Tokyo, in addition to its London headquarters and an office in Greenwich, Conn.
Former Bank of America Merrill Lynch executive Antony Hung will head the new office, according to Reuters. Hung was head of wealth management for the Asia-Pacific region at the firm prior to his retirement in 2010.
The new office comes more than two years after Capula won a US$200 million mandate from a Chinese sovereign wealth fund, China Investment Corp.