US hedge fund North Rock Capital is expanding its Asia footprint with the opening of a new office in Singapore. The move comes a year after North Rock established its first Asia office in Hong Kong, according to a report by the Straits Times.
The report cites executives as saying that the expansion is part of the company's plan to boost its presence in the region and attract top talent.
The equity-focused multi-manager firm, which manages about $5bn (SGD6.7bn) in assets, has filed an application with the Monetary Authority of Singapore (MAS) for a Capital Markets Services Licence for fund management in the country.
North Rock's Asia team has grown rapidly to around 30 staff over the past hear with the number of portfolio managers tripling to six.
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