Ivy Asset Management Corp., a hedge fund of funds and alternative investment management unit of Bank of New York Mellon Corp., opened an office in Hong Kong on Wednesday.
The office is Ivy's sixth. It opened its Tokyo office in 2004 and established full-scale operations in London in 2003. Domestically, it has offices in San Francisco and New York, along with its headquarters in Jericho, N.Y.
The Hong Kong office will provide hedge fund and customized services to institutional and high-net-worth investors across the Asia Pacific region.
Alex Balfour, a managing director and the head of client development for Asia except Japan, will oversee the new office. He joined Ivy in November from Union Bancaire Privee.
