Drake Builds Asia Operation

The third stage is opening an office in Tokyo and forming strategic relationships with Asian distributors and other firms. In Mr. Horodeck’s experience, Asian investors already understand hedge funds and are looking for good products. For its part, Drake would like to further diversify its investor base. Asian institutions, with their different policies, would add diversity.

The firm, which manages more than US$2 billion, showed strong performance this year, with around 8% returns in its flagship fund. It recently reopened a fund for investment, with plans to close again after taking in another US$700 million. The managers expect to repeat these steps in the future so that the effect of additional capital can be observed, although they believe the current fixed-income strategy has plenty of capacity.

Contact Bob Keane with questions or comments at: [email protected].