Hong Kong-based Pamalican Asset Management Ltd has vacated space in one of the city’s most high-profile office buildings, The Henderson, roughly a year after its early backing from Millennium Management was withdrawn, according to a report by Bloomberg.

The firm, founded by former Goldman Sachs banker Jamie Goodman, exited its lease in March and has relocated to Edinburgh Tower in Hong Kong’s Central district, according to land registry filings. The move comes well before the original lease expiry in 2027, which included an optional renewal period.

Pamalican launched in 2024 with around $500m in seed capital from Millennium, marking one of the more notable hedge fund startups of that year. However, Millennium, led by Izzy Englander, pulled its backing within months of the fund beginning trading, forcing Pamalican to seek alternative sources of capital.

The relocation represents a shift away from The Henderson, a landmark Zaha Hadid Architects-designed skyscraper owned by Henderson Land Development Co. The building, which is reportedly around 95% leased, has attracted a range of financial tenants including hedge funds and alternative asset managers, alongside luxury brands.

Pamalican’s departure comes amid broader adjustments in Hong Kong’s hedge fund landscape, where rising costs and shifting capital flows have prompted some firms to reassess premium office commitments.

The firm has reportedly not commented publicly on the relocation.