NEW YORK (HedgeWorld.com)–International Asset Management, a London-based fund of funds firm, plans to open a New York office, from which it will perform due diligence on North American hedge fund managers.

On Monday, company officials announced they had hired Mark DeAngelis as senior research analyst in the new New York office. Mr. DeAngelis was formerly a vice president at the Stamford, Conn.-based fund of funds K2 Advisors LLC.

Initially, International Asset Management’s New York office will perform due diligence on long/short equity managers, IAM spokesman Roderick Cameron said. Previously, IAM officials were passing through New York dozens of times a year meeting with hundreds of hedge fund managers. Now the New York office staff will handle many of those meetings.

“It’s a question of spending less time in a lot of hotel lobbies, I think,” Mr. Cameron said.

IAM founder and Investment Director Alan Djanogly said in a news release that the opening of the New York office and the hiring of Mr. DeAngelis “will add considerable firepower to our research efforts, strengthening our already extensive research team.”

CClair@HedgeWorld.com