Tuesday, 9 February 2016
Last updated 58 min ago
Sep 24 2007 | 10:03am ET
Seattle-based fund of funds shop Quellos Group has opened an office in Hong Kong headed by Shih-Wei Peng, a principal relocating from the U.S., and Mark Woolley, a managing director relocating from London.
The firm said it decided to establish an office in Hong Kong because of its significant existing clientele based in the region, a growing presence of alternative investment managers in and around the region, and “dramatic” growth projections in both investment opportunities and potential clients in the region.
In June, Quellos agreed to sell its fund of funds business to BlackRock, Inc. for up to $1.7 billion and operate under the name BlackRock Alternative Advisors. The deal is expected to close on Oct. 1. Quellos also has offices in New York, London and Durham, N.C.