SkyBridge adds Asian partnership to build on European business

US hedge fund provider SkyBridge Capital has struck a strategic partnership with South Korea’s Woori Investment & Securities, which adds another Asian leg to its international expansion, that already encompasses Europe.

The partnership will enable distribution of hedge fund products throughout South Korea and other areas in Asia.

Woori has also allocated capital to a SkyBridge fund of hedge funds vehicle, the companies said.

SkyBridge manages or advises on some $8.2 in assets, according to figures for the end of May. The deal is part of a business development programme intended to boost global distribution of its hedge fund product portfolio, including multi-advisor, multi-strategy fund of hedge fund produdcs, custom portfolios and advisory services.

Max von Bismarck, CEO of SkyBridge Europe, said: “Our partnership with Woori Financial Group is another important step forward in further developing our international business. In addition to Europe Asia is a key market for us in this effort.”

Woori offers a range of financial services across its domestic Korean branches and overseas, including wealth management, investment banking and prime brokerage. Eun Soo Kim, head of global division, said that investors across the Asia region are seeking diversification.

“We believe that SkyBridge’s thoughtful, thematic investment strategy and high-conviction approach to alpha generation will help us to provide our clients with a high-quality hedge fund investment option.”

 

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