Algebris eyes opening of Singapore office
London-based Algebris Investments LLP is planning to open its office in Asia as growth in the region attracts investors.
A Bloomberg report said, "About 45 percent of investors in a Deutsche Bank AG survey released in March said they would add investments in hedge funds focusing on Asia outside of Japan this year, compared with 18 percent in 2009. The region is leading a recovery from the deepest global recession since World War II."
"Hedge-fund managers are coming to Asia to take advantage of two major opportunities: long-term secular growth trends driven by the rise of the urban middle-class, and short-term trading opportunities that are still available in less efficient emerging markets," Frank Brochin, managing director at New York-based StoneWater Capital LLC, which invests about $130 million in Asian hedge funds, said in the report.
Registered as Algebris Investments (Asia) Pte and incorporated in Singapore in March, Algebris' Asian business will be headquartered at the PWC Building on Cross Street.
View the full report in Bloomberg.