LMR Partners Opens Hong Kong Office

Aug 8 2012 | 12:15pm ET

A Paloma Partners-backed hedge fund, one of the best performers in recent years, is expanding to Asia.

LMR Partners has opened an office in Hong Kong and registered with the city's Securities and Futures Commission. In addition, the firm's "R", co-founder Stefan Renold, has moved to Hong Kong to run the office, which he will do on his own for the time being.

"We want to get closer to having a 24-hour worldwide presence," Levine, LMR's CEO and a former co-head of European cash equity trading at UBS, told Financial News. "In Asia there are lots of opportunities we feel that we're not exploiting because we don't have anyone local on the ground. We think the move will improve the return stream of our existing strategies and help us explore new ones."

London-based LMR runs a managed account for Paloma. The Connecticut hedge fund shares in the fees earned by LMR's US$335 million multi-strategy fund. LMR launched a second fund in April, giving investors access to the parts of its flagship hedge fund that are not capacity constrained. The LMR Fund is currently closed to investors due to those capacity constraints.

The LMR Fund returned 30% in 2010, its first year, 38% last year and is up 5% this year.


In Depth

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note