HONG KONG Jan 14 Soros Fund Management,
billionaire investor George Soros' flagship investment company,
is looking to set up an Asia presence in Hong Kong amid a
resurgence in the region's hedge fund industry, said a source
familiar with the matter.
The fund firm, which was no longer actively managed by Soros,
would relocate some senior managers from its U.S. offices to
Asia, the source said.
When Reuters contacted Soros spokesman Michael Vachon in
November about the fund's plans to open an office in Hong Kong,
Vachon replied via email: "rumors". Another Soros source said
that month that the fund had no such plans.
But an industry source in Hong Kong on Thursday said the fund
had hired a manager from Tiger Asia Management in New York to run
its Asian office, which was likely to become operational in the
first quarter of 2010.
Vachon was not immediately available for comment on Thursday.
The source, who requested anonymity because he was not
permitted to speak to the media, said he did not know the name of
the Tiger Asia manager.
Bloomberg reported on Thursday that James Chang of Tiger Asia
in New York and current Soros manager Dai Jixin were expected to
relocate to Hong Kong to open the Soros Fund office.