Fund launches & closures

London-based LMR sets up shop in Hong Kong

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London-based multi-strategy hedge fund manager LMR Partners has secured a license to manage assets in Hong Kong.

The firm, which was started in 2010 by founding partners Ben Levine, Andrew Manuel and Stefan Renold, runs a $850 million multi-strategy fund that combines systematic equities, short-term discretionary global macro and managed futures.

The group has no plan at the moment to launch an Asia-specific multi-strategy fund and will focus instead on managing the existing LMR Fund and LMR Global Opportunities Fund. The LMR funds are co-managed by both UK and Hong Kong investment managers.

Levine previously worked as managing