SAC Opens Singapore Office

Dec 4 2009 | 10:20am ET

Hedge fund giant SAC Capital Advisors has opened an office in Singapore, its second in Asia.

The Stamford, Conn.-based firm, which manages about $13 billion, will have two portfolio managers based in the city-state, Reuters reports. The firm already has an office in Hong Kong, as well as offices in New York, Boston, Chicago and London.

Asia is poised to be a major center for hedge fund growth, following the retrenchment or withdrawal of many western hedge funds during the financial crisis. Hedge funds in the region have performed well above-average this year, and a series of new funds focused on the region have debuted.

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