Singapore is cementing its status as a regional hotspot for hedge funds, with the number of firms expanding from Hong Kong to the city state tripling in the past three years.
At least 16 firms already operating in Hong Kong added a Singapore office between the start of 2019 and end of 2021, compared with just five in the previous three-year period, according to a Bloomberg News analysis of regulatory and business registry data in both financial hubs.
Among those that put boots on the ground in Singapore are some of the largest global managers, such as Marshall Wace, Citadel and D.E. Shaw & Co. There are also smaller regional peers, including Ovata Capital Management and Trivest Advisors. Trivest didn’t respond to multiple requests for comment and the other firms declined to comment.
