Three major global hedge funds are expanding their operations into the Hong Kong market. These include Hudson Bay Capital Management LP from the United States, Sona Asset Management from the UK, and Centiva Capital LP based in New York.
According to government records, Hudson Bay Capital Management, which manages approximately $20 billion in assets, registered a new entity in Hong Kong last October. The company has recruited new employees in Hong Kong, including Jack Truong, who led the Asian business development team at Segantii Capital Management Ltd., and former Segantii convertible bond trader Dong Yinfei.
Sona Asset Management established a subsidiary in Hong Kong last August. The company is considering transferring staff and recruiting new employees to expand this subsidiary.
Centiva Capital, after expanding to Singapore three years ago, received regulatory approval for its Hong Kong office at the end of last November. Hudson Bay Capital has been contemplating a Hong Kong office for several years, and its recent hiring indicates an accelerated effort to establish its first Asian office and seventh globally. Sona currently operates in London and New York.
Previously, multi-strategy firms like New York-based Jain Global LLC and Singapore's Arrowpoint Investment Partners have also entered the Hong Kong market to tap into talent resources unavailable elsewhere.
