Hedge fund Bridgewater, Citadel Securities expand Asian footprints

Hedge fund Bridgewater, Citadel Securities expand Asian footprints

Bridgewater Associates, the world's largest hedge fund, and Citadel Securities, one of the biggest market-making firms, announced new offices in Singapore and Tokyo on Wednesday.

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Bridgewater said in a statement that its new Singapore office marks its first Asian expansion beyond China in order to serve regional clients.

Citadel is opening an office in Tokyo and plans to market U.S. fixed income products in Japan, it said separately.

The U.S. firms' moves are another signal of how rising Sino-U.S. tension is encouraging western businesses to seek growth in Asia outside China, with investors behaving likewise.

Founded by long-time China bull and billionaire investor Ray Dalio, Bridgwater's Singapore location adds to offices in Beijing and Shanghai in the region and opens as the world's biggest hedge fund by assets cuts China equities exposure.

The Connecticut-based firm sold its entire stakes in Alibaba and JD.com in the second quarter of 2022, according to its latest 13F filing.

Chip Packard, head of Eurasia, said in the Bridgewater statement the new permanent presence would strengthen client relationships and open access to new opportunities.