Hedge fund manager Citadel and its sister company, market maker Citadel Securities, will open a new office in Singapore later this year.
The Chicago-based firms already maintain 16 offices in North America, Europe and the Asia-Pacific region and are adding the Singapore hub to "help extend the firms' presence across southeast Asia and provide access to an expanded local talent pool," a joint news release said.
In the meantime, both companies continue to expand their activities in existing offices in Hong Kong and Citadel Securities is broadening its trading reach throughout the region from the firm's Shanghai and Sydney offices.
"Asia-Pacific continues to be an important focus for both Citadel and Citadel Securities. We are excited to further extend our presence in the region as we continue to grow and invest in our teams to serve our (investors) in Citadel (investment strategies ) and provide a superior trading experience for our clients in Citadel Securities," said John Buckley, Citadel's Asia-Pacific chief operating officer, in the release.
Each Citadel entity has a long history in the Asia-Pacific region. Citadel began investment operations in the region in 2005 and Citadel Securities has been trading there since 2009.
Citadel managed $34.3 billion in multistrategy hedge funds as of July 1.