US hedge fund North Rock Capital is opening an office in Singapore, its second in Asia after Hong Kong, according to a Reuters report.
It quotes Simon Chow, managing director and head of Asian research at North Rock, as saying that the company has applied to the Monetary Authority of Singapore for a fund management licence.
According to Chow, having an office in Singapore would allow North Rock to give its portfolio managers more flexibility in a very competitive and talent-driven industry.
“Hong Kong and Singapore, it makes us more attractive because we can now offer people the option of both,” he says in an interview with Reuters published on February 6.
North Rock opened the Hong Kong office in January 2023.
Spokespersons for the Florida-based firm did not immediately respond to questions from Asia Asset Management.
North Rock had US$5 billion of assets under management as of end-September 2023.
