Hong gone

20 January 2021 By Jennifer Hughes Follow @JennHughes13

The hedge fund is closing its Hong Kong base and will run its Asian campaigns from Tokyo and London. Moving amid the city’s political strife raises eyebrows, but the region’s rapid growth in shareholder shake-ups is passing China by. Paul Singer’s group is following the money.

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U.S. hedge fund Elliott Management is closing its Hong Kong office and shifting responsibility for its Asian investments and campaigns to its Tokyo and London offices, Reuters reported on Jan. 19, citing sources.

The firm’s most prominent recent activist campaigns in Asia have included pushing for change at Japanese technology conglomerate SoftBank. Korean companies Hyundai and Samsung have also been targets.

The decision to close the office comes after its staffing was reduced over the past three years to about 20 people from more than 100, Reuters reported.

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