Schonfeld to Launch New Asia-Pacific Equity Unit
Hedge fund Schonfeld is establishing a second equity unit with a focus on the Asia-Pacific region. The move signals a continued trend of global expansion and specialization among investment firms seeking new talent pools and market opportunities.
- The new unit will be named Triwood Asset Management and will be led by veteran portfolio manager Yasuhiro Tamaki, who has been with Schonfeld for nine years. - Triwood will launch with approximately 30 of Tamaki's existing team members, with plans for additional hires, and will operate from Hong Kong, Tokyo, Singapore, and New York. - This move makes Schonfeld the latest multi-strategy hedge fund to adopt a multiple-stock-picking-business model, following competitors like Citadel, Point72, and Balyasny Asset Management. - Schonfeld currently manages approximately $17.5 billion globally and already has a significant presence in the Asia-Pacific region with around 200 employees. - The firm's first entry into the Asia-Pacific market was in 2016 through an investment in Folger Hill Asset Management, which it fully acquired in 2018. - The expansion comes as several Asian markets are rebounding, with Japanese stocks nearing record highs and benchmark indexes in South Korea and Taiwan outperforming the S&P 500 over the past year. - Triwood Asset Management will focus on a long-short equity strategy in the Asia-Pacific markets and will report directly to Schonfeld's CEO, Ryan Tolkin, alongside the firm's existing Global Equities business. - Yasuhiro Tamaki, who is based in Hong Kong, will continue to manage his Japan-focused portfolio in addition to his new leadership role at Triwood.
