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

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note