Fortress Investment Asia
Hedge Fund Fortress Optimistic On Prospects in Asia
Fortress Investment is one of the largest public hedge funds and is one of many hedge funds eying prospects in Asia. The region is becoming more and more desirable in comparison to the West where regulation and taxes are on the rise. Fortress is said to be opening offices in Singapore and Hong Kong hoping on a Asia comeback.
Fortress recently registered a company in Singapore, a check with the city-state's Accounting and Corporate Regulatory Authority showed, and lawyers and headhunters said it has sought advice on setting up shop in Singapore and maybe Hong Kong.
"The Singapore office will be for investments. It sounded like they want to start small and slowly build up," a person who had a discussion with Fortress said. He declined to be named as the talks were confidential.
The New York-based firm, which manages over $40 billion following its acquisition of fixed-income asset manager Logan Circle Partners last month, did not respond to queries from Reuters.
Global heavyweights such as GLG and Soros Fund Management are among the funds making a beeline for Asia.
"The main driver for all hedge funds is the opportunity set, and Asia continues to present rich, varied, and constantly developing opportunities," said Peter Douglas, principal of hedge fund consultancy GFIA. Source
Related to: Fortress Asia
Tags: Fortress Investment Asia, Fortress Investments, Asia Investments, Fortress Management, Fortress Singapore, Hong Kong
