US hedge fund, Citadel, has announced the opening of an office in Singapore. The new office will be jointly shared by the Citadel hedge fund and the market-making business Citadel Securities, according to a report by Bloomberg. Citadel has enjoyed a boom in trading as a result of the pandemic while its flagship multi-strategy hedge fund has gained 16.5% in the first seven months of 2020. “Asia-Pacific continues to be an important focus for both Citadel and Citadel Securities,” said John Buckley, regional chief operating officer. Citadel opened an office in Hong Kong back in 2005 and claims to be the first international hedge fund to raise yuan capital from wealthy investors from the Chinese mainland for overseas investment. Both the hedge fund and market making businesses will continue to grow their respective operations in Hong Kong. © 2020 funds global asia