Woori brokerage has joined forces with SkyBridge to distribute the US firm's FoHF products in Korea, potentially giving the alts manager a foothold in the local hedge fund market.
Assets managed by Asian funds of hedge funds have fallen by half to $16 billion on the back of poor performance and a growing trend for direct investments by institutions.
Launch of China office to follow merger with fellow fund of hedge fund Fauchier, underlining a growing emphasis on the country’s nascent hedge fund market.
Matrix Group, which is liquidating its hedge fund unit, has already wound up two Asia strategies, although a regional property income vehicle remains intact.
The Swiss fund of hedge funds plans to make its first investments in Asia during a downturn, which CIO Ernesto Prado expects to result from eurozone problems.