Arrowpoint Investment Partners, one of the largest hedge funds launched in Asia this year, is rapidly expanding its presence in Hong Kong and has taken on an entire floor at the newly built Six Pacific Place in Wanchai, according to a report by Reuters.
The report cites three sources familiar with the development as confirming that the firm, founded by the former Asia co-CEO of Millennium Management Jonathan Xiong, has leased the 22nd floor of the office tower owned by Swire Properties. The hedge fund plans to relocate from its current co-working space to the nearly 8,000-square-foot (743 sq m) office in the first quarter of 2025, according to one of the sources.
Since starting trading in July, Arrowpoint has been aggressively growing its team. Backed by major investors, including Blackstone and the Canada Pension Plan Investment Board (CPPIB), the $1bn multi-manager fund is headquartered in Singapore, with an additional office in Hong Kong. The firm is on track to more than double its staff to around 100 employees by the first quarter of 2025, with 60% based in Singapore and the remainder in Hong Kong. Arrowpoint is expected to have over 20 trading teams by that time, the source added.
Arrowpoint declined to comment on its expansion plans.
Arrowpoint is also planning a move in Singapore, with its office set to relocate to Marina One in early 2024, according to the same source.
