Top-performing Singapore-based hedge fund Dymon Asia Capital is accelerating its expansion across Asia, amid growing investor appetite for regional exposure and a broader industry push to diversify return streams beyond developed markets, according to a report by Business Times.
The report cites multiple sources familiar with the matter as highlighting that Dymon has hired multiple new portfolio managers, including Hiroki Kawahara (yen rates), Cicong Zhou (macro), and Wei Yan, who also focuses on macro strategies. The new hires join from firms including JPMorgan Chase, Symmetry Investments, and Infini Capital Management. Zhou and Kawahara are set to start later this year, while Yan began this week, per his LinkedIn profile.
The recruitment spree comes as Dymon’s flagship multi-strategy fund posted a 9.75% gain YTD through July, outpacing many global peers and reinforcing investor interest in regionally focused, alpha-driven platforms.
Meanwhile, Citadel – the $60bn hedge fund giant led by Ken Griffin – continues to build out its Asia Pacific equities team, with three new PMs joining in August. The hires include Ran Wei (ex-Sylebra, TMT-focused), Doris Yang (ex-Point72, China equities), and Jerry Jiang (ex-Point72, consumer and TMT). All will be based in Hong Kong and report to Sachin Kewalramani, head of Asia fundamental equities at Citadel.
The moves reflect a broader trend of hedge funds doubling down on Asia, as investors seek regional diversification and tap into opportunities driven by policy divergence, local idiosyncrasies, and structural growth stories.
Singapore and Hong Kong – key hubs for global alternatives managers – have seen significant asset growth. According to official data, hedge fund AUM in Singapore surged 37% in 2024 to SGD327bn, while total AUM across asset classes rose to SGD6.07tn.
