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

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...