Asian family offices expand US footprint: Andon Hong Kong opens New York office
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Soros Fund Management alumnus Chuck Sun will lead hedge-fund manager selection from the new location. It's an area that Sun specialised in at billionaire George Soros' family office.
The firm manages money on behalf of Shenzhen-listed Andon Health, a Chinese maker of medical devices like blood pressure monitors and Covid test kits.
'We plan to add more hedge fund allocation and build broader and deeper connections with private market managers in New York,' said Jason Guo, chief investment officer of Andon Hong Kong, which manages several billion dollars.
The move underscores a deeper push by the Chinese company's investment arm into hedge funds and private markets. Andon has hired a hedge fund allocation analyst in New York to support the expansion.
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Even as some of the world's biggest money managers point to an unwinding of US assets, a number of Asian family offices are bucking the trend. Nan Fung Trinity, the financial investment and family office arm of Hong Kong conglomerate Nan Fung Group, also has plans to set up an office in New York, Bloomberg reported last month.
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