LONDON\/HONG KONG, Jan 21 (Reuters) – GLG Partners (GLG.N), one of Europe’s biggest hedge fund firms, is opening offices in Asia as the industry races to profit from the region’s wealthy and relatively untapped investor base. GLG, which is based in London’s hedge fund centre Mayfair but listed in New York, said it is opening a research office in Hong Kong, where fund manager Anuj Mutreja is moving, and a representative office in Beijing.<\/p>\n
Hedge fund firms, which are largely based in the U.S. and the UK, are increasingly looking to establish a foothold on the ground in Asia, attracted by strong equity market gains last year and low costs. Earlier this month UK-based Prana Capital said it was considering opening an office in Singapore and relocating founder Peregrine Cust there.<\/p>\n
On Thursday former bankers Anders Jacobsen and Paul Thompson said they had launched Galileo Capital Management in London and Hong Kong.<\/p>\n