Launches & Closures

SecondMarket prepares for Asia entry


US-based SecondMarket, the largest global secondary market for illiquid assets, is mapping out its entry into Asia, where it is sourcing buyers and sellers. Its foray coincides with the resurgence of hedge funds, which account for half of its buyers and sellers, according to SecondMarket chief strategy officer Jeremy Smith.

The firm has a business development team in Hong Kong, where it may set up regional headquarters later this year, although Singapore is also being considered, said Smith. He added that interest in SecondMarket by Asian hedge funds has increased significantly since February, when the Li Ka Shing