Alternative investments round up: Asia’s growth slips
Asia has proved less immune to the global downturn than was once thought.
Massive expansions in the hedge fund industry over the past three years are now being reversed. Och-Ziff Capital Management has laid off 10 people in the region in the credit and distressed area. Its Asia fund was down 27.5% at the end of November – just a fraction less than the HFR Asia Average index. Citadel Investments also announced in December that it would be shutting its Tokyo operations and cutting 25 positions in Hong Kong, leaving 25 to 30 employees there.