Ramius Rethinks Asia

Nov 3 2008 | 2:05am ET

New York-based Ramius Capital may be joining the hedge fund exodus from Asia.

The firm, which manages $11 billion, may turn in its Hong Kong trading and advisory licenses, the Financial Times reports. The move would follow similar decisions by Concordia Advisors and GSA Capital Partners, which have closed offices in Asia. Others, including Tantallon Capital and TPG-Axon Capital Management have reduced staff in the region.

TPG-Axon has recently let go of at least a third of its Asian staff, while maintaining its US workforce, according to insiders. TPG-Axon initially declined to comment but later said this was “completely inaccurate” and that ”staffing levels remained unchanged.”

Ramius said it would continue trading Asian securities from its New York and London offices.

RELATED STORIES

Hedge Funds Close, Cut Or Delay Asian Offices


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of