Hedge fund Algebris heads to Asia; eyeing S'pore & HK |
Date: Thursday, March 18, 2010
Author: Reuters
London-based
hedge
fund manager Algebris Investments LLP is in talks to set up a
base in Asia over the next few months, joining a slew of Western
managers driven to the region in search of higher returns and a
friendlier regulatory environment, two sources said. Top officials from
Algebris -- backed by activist investor
Christopher Hohn -- visited Asia on a reconnaissance mission
earlier this year but had yet to take a call on whether the new
office will be located in Hong Kong or Singapore, said one of the
sources. The sources, who are both
familiar with the situation,
declined to be named owing to potential future business ties with
the hedge fund manager. An official at Algebris declined to
comment when reached by Reuters.
Algebris, which runs long-short funds investing in global
financial services, has $1.6 billion in assets under management.
The fund was founded by Eric Halet and Davide Serra in 2006 and
made news last year after selling its stake in Assicurazioni
Generali (GASI.MI)
after criticising the Italian insurer's
governance.
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