US hedge fund manager DLD Asset Management is establishing a presence in Hong Kong as it seeks to expand its relative-value trading activities across Asia, hiring Maso Capital Partners co-founder Sohit Khurana as its first senior recruit in the city, according to a report by Bloomberg.
Khurana, who co-founded Hong Kong-based Maso in 2012 alongside former Och-Ziff Capital Management executive Manoj Jain, is joining DLD, according to people familiar with the matter.
DLD reportedly declined to comment, while Khurana did not immediately respond to requests for comment.
The move comes as international hedge fund managers increasingly look to Hong Kong as a base for Asian investment and investor-relations activities, reversing a period in which political unrest, Covid restrictions and geopolitical tensions discouraged new entrants.
Hong Kong’s appeal is also being supported by proposed tax incentives for eligible carried interest income, adding to competition with Singapore for hedge fund talent and capital.
DLD is not alone in expanding its footprint in the territory. Tudor Investment Corp’s quantitative spinout Xantium Group recently hired former Goldman Sachs partner Christina Ma to help establish its Asian operations, with Hong Kong serving as its initial base.
Graham Capital Management, the $22bn global macro manager, is also opening its first Asian office in Hong Kong. The firm plans to use the location to serve institutional investors and family offices across Hong Kong, Singapore, South Korea and Japan as demand for alternative investments grows.
DLD reported nearly $3bn of regulatory assets under management at the end of 2025, according to a regulatory filing. The figure typically includes leverage.
The firm’s strategy involves allocating capital across a range of internal and external portfolio managers pursuing relative-value, arbitrage and event-driven opportunities, using both discretionary and systematic approaches.
DLD founder and chief investment officer Mark Friedman has previous experience trading Southeast Asian convertible bonds and derivatives at Swiss Bank Corp and Deutsche Bank. He also co-founded AM Investment Partners, a volatility and convertible-arbitrage hedge fund that previously operated from Hong Kong.
Khurana’s experience includes convertible-bond arbitrage, while Maso has also pursued event-driven opportunities, including investments linked to corporate actions and legal challenges involving the valuation of Chinese companies taken private after previously trading in the US.
