Tremont Capital Management Inc., an alternative investment manager, announced plans Monday to open a Hong Kong office in the first quarter to capitalize on the growing Asian hedge fund market.
The office is to be created under the Tremont Capital Management (Asia) Ltd. name. Tremont said it would assign a representative to an affiliate in Hong Kong next month to begin launching the Asian hedge fund initiative pending the establishment of its office.
Tremont said it expects that its Hong Kong office will be a cornerstone for construction of a distribution network in select Asian markets. The office is to work closely with Tremont's office in London, which has been responsible for developing and expanding the Asian business.
In addition to its Rye, N.Y., headquarters and London office, Tremont has sites in Toronto and Bermuda. It is an affiliate of OppenheimerFunds Inc., which is owned by Massachusetts Mutual Life Insurance Co., and has $10.5 billion of alternative investment assets.
